Brokerages Set ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) PT at $15.04

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) has earned an average recommendation of “Reduce” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $15.04.

Several research firms have weighed in on ZIM. Jefferies Financial Group cut their target price on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, December 17th. Clarkson Capital raised shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Fearnley Fonds lowered ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. Finally, Barclays dropped their target price on ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating for the company in a research report on Friday, January 10th.

ZIM Integrated Shipping Services Trading Up 7.4 %

Shares of NYSE ZIM opened at $19.43 on Thursday. ZIM Integrated Shipping Services has a 12 month low of $9.08 and a 12 month high of $30.15. The business has a fifty day simple moving average of $19.23 and a 200-day simple moving average of $20.46. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 1.63, a P/E/G ratio of 0.23 and a beta of 1.74.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a dividend of $2.81 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 annualized dividend and a dividend yield of 57.86%. The ex-dividend date was Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio is currently 9.72%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ZIM. JPMorgan Chase & Co. raised its position in shares of ZIM Integrated Shipping Services by 59.4% during the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock worth $46,482,000 after acquiring an additional 674,723 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of ZIM Integrated Shipping Services by 39.5% in the fourth quarter. Allianz Asset Management GmbH now owns 1,389,034 shares of the company’s stock valued at $29,823,000 after buying an additional 393,215 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in ZIM Integrated Shipping Services by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company’s stock valued at $22,079,000 after purchasing an additional 36,692 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in ZIM Integrated Shipping Services by 26.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 599,258 shares of the company’s stock valued at $15,377,000 after acquiring an additional 126,459 shares in the last quarter. Finally, Millennium Management LLC grew its position in ZIM Integrated Shipping Services by 306.7% in the 2nd quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock worth $9,440,000 after purchasing an additional 321,100 shares in the last quarter. 21.42% of the stock is currently 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.