ZIM Integrated Shipping Services (NYSE:ZIM) Price Target Raised to $17.00

ZIM Integrated Shipping Services (NYSE:ZIM) had its price target lifted by Jefferies Financial Group from $16.00 to $17.00 in a report issued on Tuesday,Benzinga reports. They currently have a hold rating on the stock.

Several other brokerages have also commented on ZIM. Barclays lowered their price objective on ZIM Integrated Shipping Services from $13.50 to $12.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. Bank of America lowered their price target on shares of ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating for the company in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. cut their price objective on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating on the stock in a report on Friday, March 7th. Five research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $14.05.

ZIM Integrated Shipping Services Stock Performance

Shares of ZIM opened at $18.29 on Tuesday. The company has a 50-day simple moving average of $15.15 and a two-hundred day simple moving average of $18.64. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. The firm has a market capitalization of $2.20 billion, a PE ratio of 1.53, a price-to-earnings-growth ratio of 0.27 and a beta of 1.84. ZIM Integrated Shipping Services has a one year low of $11.04 and a one year high of $30.15.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Monday, May 19th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.56. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the company earned $0.75 EPS. On average, analysts anticipate that ZIM Integrated Shipping Services will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th were given a $3.17 dividend. This represents a $12.68 annualized dividend and a dividend yield of 69.33%. The ex-dividend date was Monday, March 24th. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. ZIM Integrated Shipping Services’s payout ratio is currently 6.51%.

Institutional Trading of ZIM Integrated Shipping Services

Several institutional investors have recently bought and sold shares of ZIM. Renaissance Technologies LLC raised its holdings in ZIM Integrated Shipping Services by 50.0% in the fourth quarter. Renaissance Technologies LLC now owns 5,726,631 shares of the company’s stock worth $122,951,000 after buying an additional 1,909,480 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of ZIM Integrated Shipping Services by 33.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,784,352 shares of the company’s stock valued at $81,250,000 after acquiring an additional 940,587 shares in the last quarter. Nuveen LLC purchased a new position in ZIM Integrated Shipping Services in the 1st quarter worth approximately $12,322,000. Goldman Sachs Group Inc. lifted its position in ZIM Integrated Shipping Services by 20.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock valued at $68,879,000 after acquiring an additional 788,514 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in ZIM Integrated Shipping Services in the 4th quarter valued at approximately $16,381,000. 21.42% of the stock is owned by hedge funds and other institutional investors.

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.