ZIM Integrated Shipping Services (NYSE:ZIM) Trading 2.2% Higher

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) rose 2.2% during trading on Monday . The stock traded as high as $22.68 and last traded at $22.65. Approximately 1,160,449 shares traded hands during trading, a decline of 82% from the average daily volume of 6,424,651 shares. The stock had previously closed at $22.17.

Analysts Set New Price Targets

Several brokerages have issued reports on ZIM. Citigroup lowered ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and boosted their price target for the company from $11.60 to $13.00 in a research note on Thursday, June 6th. Bank of America reduced their price target on shares of ZIM Integrated Shipping Services from $11.00 to $7.80 and set an “underperform” rating for the company in a report on Tuesday, March 19th. JPMorgan Chase & Co. reduced their price objective 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. Jefferies Financial Group reaffirmed 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. Finally, Barclays boosted their target price on shares of ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 28th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, ZIM Integrated Shipping Services has an average rating of “Hold” and a consensus price target of $12.01.

ZIM Integrated Shipping Services Stock Up 2.9 %

The stock has a 50-day moving average of $18.04 and a 200 day moving average of $13.85. The company has a market capitalization of $2.74 billion, a PE ratio of -1.07, a P/E/G ratio of 0.20 and a beta of 1.85. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 1.49.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Tuesday, May 21st. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.34). The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.53 billion. ZIM Integrated Shipping Services had a negative net margin of 47.59% and a negative return on equity of 14.80%. Sell-side analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 3.42 EPS for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 4th were paid a $0.23 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.92 annualized dividend and a dividend yield of 4.03%. ZIM Integrated Shipping Services’s payout ratio is presently -4.35%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several large investors have recently modified their holdings of the business. Allianz Asset Management GmbH increased its position in shares of ZIM Integrated Shipping Services by 1,446.0% during the fourth quarter. Allianz Asset Management GmbH now owns 161,552 shares of the company’s stock valued at $1,595,000 after buying an additional 151,102 shares during the period. American Century Companies Inc. increased its position in shares of ZIM Integrated Shipping Services by 12.4% in the third quarter. American Century Companies Inc. now owns 898,491 shares of the company’s stock worth $9,389,000 after purchasing an additional 99,477 shares during the last quarter. International Assets Investment Management LLC raised its stake in ZIM Integrated Shipping Services by 1,204.6% in the fourth quarter. International Assets Investment Management LLC now owns 173,712 shares of the company’s stock valued at $17,600,000 after purchasing an additional 160,397 shares in the last quarter. Private Advisor Group LLC bought a new stake in ZIM Integrated Shipping Services during the fourth quarter valued at approximately $127,000. Finally, Citigroup Inc. grew its stake in ZIM Integrated Shipping Services by 77.1% in the 3rd quarter. Citigroup Inc. now owns 5,403 shares of the company’s stock worth $56,000 after buying an additional 2,352 shares in the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

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.