Bridgefront Capital LLC acquired a new position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Rating) during the 3rd quarter, Holdings Channel reports. The firm acquired 10,178 shares of the company’s stock, valued at approximately $239,000.
A number of other institutional investors also recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. bought a new stake in shares of ZIM Integrated Shipping Services in the first quarter worth $1,851,000. Bank of New York Mellon Corp bought a new stake in shares of ZIM Integrated Shipping Services in the 1st quarter worth about $13,790,000. American Century Companies Inc. acquired a new stake in shares of ZIM Integrated Shipping Services in the 1st quarter valued at about $527,000. Cetera Advisor Networks LLC bought a new position in shares of ZIM Integrated Shipping Services during the first quarter worth about $244,000. Finally, PNC Financial Services Group Inc. grew its stake in ZIM Integrated Shipping Services by 1,625.0% in the first quarter. PNC Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $502,000 after purchasing an additional 6,500 shares in the last quarter. 36.74% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ZIM has been the topic of several research reports. JPMorgan Chase & Co. upgraded ZIM Integrated Shipping Services from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $17.60 to $30.40 in a research note on Friday, February 17th. Jefferies Financial Group reissued a “hold” rating and set a $20.00 price target on shares of ZIM Integrated Shipping Services in a research report on Monday. Finally, Barclays downgraded shares of ZIM Integrated Shipping Services from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $26.50 to $15.00 in a report on Monday, February 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.08.
ZIM Integrated Shipping Services Trading Up 1.9 %
ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) last issued its earnings results on Monday, March 13th. The company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $2.26 by $1.18. ZIM Integrated Shipping Services had a return on equity of 87.07% and a net margin of 36.77%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period last year, the company earned $14.17 earnings per share. Equities research analysts expect that ZIM Integrated Shipping Services Ltd. will post -1.57 EPS for the current year.
ZIM Integrated Shipping Services Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 24th will be paid a dividend of $6.40 per share. This represents a $25.60 dividend on an annualized basis and a yield of 104.36%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.95. The ex-dividend date of this dividend is Tuesday, April 4th. ZIM Integrated Shipping Services’s payout ratio is presently 30.76%.
ZIM Integrated Shipping Services Company Profile
ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.
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