ZIM Integrated Shipping Services (NYSE:ZIM) Shares Up 4.4%

ZIM Integrated Shipping Services Ltd. (NYSE:ZIMGet Free Report) shares shot up 4.4% during mid-day trading on Wednesday . The stock traded as high as $18.60 and last traded at $18.42. 1,743,215 shares traded hands during trading, a decline of 74% from the average session volume of 6,720,396 shares. The stock had previously closed at $17.65.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ZIM. Bank of America dropped their target price on 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. JPMorgan Chase & Co. cut their target price on ZIM Integrated Shipping Services from $9.30 to $9.25 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Barclays increased their price target on ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the company an “underweight” rating in a research note on Tuesday, May 28th. Citigroup cut ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and increased their price target for the company from $11.60 to $13.00 in a research note on Thursday, June 6th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $20.00 target price on shares of ZIM Integrated Shipping Services in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.01.

Check Out Our Latest Report on ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Trading Down 1.3 %

The firm has a fifty day simple moving average of $15.90 and a two-hundred day simple moving average of $12.78. The firm has a market capitalization of $2.23 billion, a P/E ratio of -0.88, a price-to-earnings-growth ratio of 0.30 and a beta of 1.88. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.98 and a quick ratio of 0.90.

ZIM Integrated Shipping Services (NYSE:ZIMGet Free Report) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.34). ZIM Integrated Shipping Services had a negative return on equity of 14.80% and a negative net margin of 47.59%. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.53 billion. On average, equities research 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, June 4th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.92 annualized dividend and a yield of 4.96%. ZIM Integrated Shipping Services’s dividend payout ratio is currently -4.35%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of large investors have recently added to or reduced their stakes in ZIM. Regatta Capital Group LLC boosted its stake in shares of ZIM Integrated Shipping Services by 8.5% in the 1st quarter. Regatta Capital Group LLC now owns 16,022 shares of the company’s stock valued at $162,000 after purchasing an additional 1,254 shares in the last quarter. Olympiad Research LP boosted its stake in shares of ZIM Integrated Shipping Services by 2.8% during the fourth quarter. Olympiad Research LP now owns 49,236 shares of the company’s stock valued at $486,000 after purchasing an additional 1,364 shares during the period. Tower Research Capital LLC TRC boosted its position in ZIM Integrated Shipping Services by 92.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,335 shares of the company’s stock valued at $33,000 after acquiring an additional 1,601 shares in the last quarter. Van ECK Associates Corp boosted its stake in ZIM Integrated Shipping Services by 6.8% during the third quarter. Van ECK Associates Corp now owns 33,686 shares of the company’s stock worth $352,000 after acquiring an additional 2,143 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of ZIM Integrated Shipping Services by 77.1% during the third quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock valued at $56,000 after purchasing an additional 2,352 shares during the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Company Profile

(Get Free Report)

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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