ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – What’s Next?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares gapped up before the market opened on Friday . The stock had previously closed at $22.10, but opened at $22.85. ZIM Integrated Shipping Services shares last traded at $22.65, with a volume of 1,865,583 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Bank of America lifted their price objective on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Barclays boosted their price target on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the stock an “underweight” rating in a research report on Monday. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $25.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday, November 20th. Five analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.74.

ZIM Integrated Shipping Services Stock Performance

The firm has a fifty day moving average price of $22.94 and a two-hundred day moving average price of $20.64. 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 stock has a market capitalization of $2.69 billion, a PE ratio of 1.85, a P/E/G ratio of 0.05 and a beta of 1.88.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be given a dividend of $2.81 per share. This represents a $11.24 annualized dividend and a dividend yield of 50.34%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is 9.72%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZIM. Russell Investments Group Ltd. grew its stake in ZIM Integrated Shipping Services by 1,431.1% in the 1st quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after acquiring an additional 5,667 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of ZIM Integrated Shipping Services by 2.4% in the 1st quarter. California State Teachers Retirement System now owns 104,767 shares of the company’s stock worth $1,060,000 after buying an additional 2,423 shares during the period. Tidal Investments LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 18.4% in the 1st quarter. Tidal Investments LLC now owns 55,779 shares of the company’s stock worth $564,000 after buying an additional 8,665 shares during the period. Virtu Financial LLC bought a new position in shares of ZIM Integrated Shipping Services during the 1st quarter worth $257,000. Finally, Cetera Advisors LLC purchased a new position in shares of ZIM Integrated Shipping Services during the first quarter valued at $130,000. 21.42% of the stock is currently owned by institutional investors.

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.