ZIM Integrated Shipping Services (NYSE:ZIM) Reaches New 52-Week High at $21.10

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) hit a new 52-week high on Friday . The stock traded as high as $21.10 and last traded at $20.88, with a volume of 3206265 shares. The stock had previously closed at $19.41.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Bank of America decreased their price target on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating on the stock in a report on Tuesday, March 19th. Finally, Jefferies Financial Group restated a “buy” rating and set a $20.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, ZIM Integrated Shipping Services presently has an average rating of “Hold” and an average price target of $10.51.

ZIM Integrated Shipping Services Price Performance

The stock has a market cap of $2.53 billion, a PE ratio of -0.99, a price-to-earnings-growth ratio of 0.32 and a beta of 1.64. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 1.49. The company’s fifty day moving average is $12.92 and its 200 day moving average is $11.50.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Wednesday, March 13th. The company reported ($1.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.33) by $0.10. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. ZIM Integrated Shipping Services had a negative net margin of 47.59% and a negative return on equity of 14.80%. As a group, sell-side analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 1.88 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 4th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend is Tuesday, June 4th.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its stake in shares of ZIM Integrated Shipping Services by 92.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company’s stock valued at $33,000 after purchasing an additional 1,601 shares during the period. Blue Trust Inc. increased its stake in ZIM Integrated Shipping Services by 604.3% during the 4th quarter. Blue Trust Inc. now owns 4,296 shares of the company’s stock worth $45,000 after buying an additional 3,686 shares during the period. Citigroup Inc. lifted its holdings in ZIM Integrated Shipping Services by 77.1% in the 3rd quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock worth $56,000 after buying an additional 2,352 shares in the last quarter. Scarborough Advisors LLC purchased a new position in ZIM Integrated Shipping Services in the 4th quarter valued at about $58,000. Finally, Russell Investments Group Ltd. grew its stake in shares of ZIM Integrated Shipping Services by 1,431.1% during the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock valued at $61,000 after acquiring an additional 5,667 shares in the last quarter. 21.42% of the stock is owned by institutional investors and hedge funds.

About ZIM Integrated Shipping Services

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.