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

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $14.27, but opened at $16.70. ZIM Integrated Shipping Services shares last traded at $16.75, with a volume of 6,094,077 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Barclays dropped their target price on ZIM Integrated Shipping Services from $13.50 to $12.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. Jefferies Financial Group reissued a “hold” rating and issued a $18.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday, March 12th. JPMorgan Chase & Co. dropped their price objective on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating on the stock in a report on Friday, March 7th. Finally, Bank of America dropped their price objective on ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating on the stock in a report on Friday, April 11th. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.06.

ZIM Integrated Shipping Services Stock Up 15.9%

The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 1.39, a P/E/G ratio of 0.27 and a beta of 1.84. The firm’s 50 day moving average price is $15.39 and its two-hundred day moving average price is $18.89. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings data on Wednesday, March 12th. The company reported $4.66 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $1.19. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.99 billion. As a group, sell-side analysts forecast that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th were given a dividend of $3.17 per share. This represents a $12.68 dividend on an annualized basis and a dividend yield of 76.64%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. The ex-dividend date was Monday, March 24th. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently 6.51%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd lifted its position in shares of ZIM Integrated Shipping Services by 650.0% during the 4th quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company’s stock valued at $32,000 after acquiring an additional 1,300 shares during the period. New York State Common Retirement Fund purchased a new stake in ZIM Integrated Shipping Services in the 1st quarter worth approximately $30,000. Employees Retirement System of Texas purchased a new stake in shares of ZIM Integrated Shipping Services during the 4th quarter valued at $45,000. Brown Brothers Harriman & Co. purchased a new stake in shares of ZIM Integrated Shipping Services during the 4th quarter valued at $79,000. Finally, R Squared Ltd purchased a new stake in ZIM Integrated Shipping Services during the 4th quarter worth $88,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.