ZIM Integrated Shipping Services (NYSE:ZIM) Trading 5.9% Higher – Here’s Why

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) traded up 5.9% during mid-day trading on Monday . The company traded as high as $19.50 and last traded at $19.37. 1,263,337 shares were traded during mid-day trading, a decline of 80% from the average session volume of 6,204,195 shares. The stock had previously closed at $18.29.

Wall Street Analyst Weigh In

ZIM has been the topic of several recent analyst reports. Clarkson Capital upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Barclays boosted their target price on shares of ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a research note on Monday, November 25th. Fearnley Fonds downgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. Jefferies Financial Group lowered their target price on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating on the stock in a research note on Tuesday, December 17th. Finally, Bank of America raised their price target on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.14.

ZIM Integrated Shipping Services Stock Up 5.0 %

The firm has a 50 day moving average of $22.34 and a 200-day moving average of $20.60. 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 $2.59 billion, a P/E ratio of 1.80, a price-to-earnings-growth ratio of 0.04 and a beta of 1.78.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were paid a dividend of $2.81 per share. This represents a $11.24 annualized dividend and a yield of 52.28%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio is currently 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp raised its position in ZIM Integrated Shipping Services by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 38,079 shares of the company’s stock worth $977,000 after purchasing an additional 591 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of ZIM Integrated Shipping Services by 2.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 44,292 shares of the company’s stock valued at $1,137,000 after purchasing an additional 915 shares during the period. Fairman Group LLC bought a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter worth $26,000. Olympiad Research LP grew its stake in shares of ZIM Integrated Shipping Services by 12.9% during the third quarter. Olympiad Research LP now owns 10,588 shares of the company’s stock worth $272,000 after purchasing an additional 1,212 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in ZIM Integrated Shipping Services in the third quarter valued at about $31,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

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.