ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up Following Earnings Beat

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares gapped up prior to trading on Monday following a better than expected earnings announcement. The stock had previously closed at $19.06, but opened at $22.04. ZIM Integrated Shipping Services shares last traded at $21.85, with a volume of 7,014,840 shares.

The company reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $1.01. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. ZIM Integrated Shipping Services had a negative net margin of 47.59% and a negative return on equity of 14.80%. During the same period in the prior year, the firm earned ($1.37) EPS.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th will be paid a dividend of $0.93 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 16.49%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently -4.35%.

Wall Street Analyst Weigh In

ZIM has been the topic of a number of analyst reports. Citigroup cut ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $11.60 to $13.00 in a research report on Thursday, June 6th. Jefferies Financial Group reissued a “buy” rating and issued a $22.00 target price on shares of ZIM Integrated Shipping Services in a report on Monday. Finally, Barclays increased their target price on ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 28th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.41.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in ZIM Integrated Shipping Services in the 4th quarter valued at approximately $121,000. Private Advisor Group LLC bought a new position in shares of ZIM Integrated Shipping Services during the fourth quarter valued at $127,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of ZIM Integrated Shipping Services by 82.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 512,103 shares of the company’s stock valued at $5,054,000 after purchasing an additional 231,955 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in ZIM Integrated Shipping Services in the 4th quarter worth about $136,000. Finally, Jump Financial LLC bought a new stake in ZIM Integrated Shipping Services in the 4th quarter worth about $130,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Trading Up 1.4 %

The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.90 and a current ratio of 0.98. The firm has a market cap of $2.71 billion, a PE ratio of -1.07, a price-to-earnings-growth ratio of 0.09 and a beta of 1.85. The stock has a 50-day simple moving average of $19.41 and a two-hundred day simple moving average of $15.66.

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.