ZIM Integrated Shipping Services (NYSE:ZIM) Announces Quarterly Earnings Results, Beats Expectations By $0.61 EPS

ZIM Integrated Shipping Services (NYSE:ZIM) issued its quarterly earnings data on Monday. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.61, RTT News reports. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. During the same quarter in the prior year, the firm earned $0.75 earnings per share.

ZIM Integrated Shipping Services Stock Performance

NYSE:ZIM opened at $18.42 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The company has a market cap of $2.22 billion, a P/E ratio of 1.54, a P/E/G ratio of 0.27 and a beta of 1.84. The company’s 50-day moving average price is $15.14 and its 200-day moving average price is $18.71. ZIM Integrated Shipping Services has a twelve month low of $11.04 and a twelve month high of $30.15.

ZIM Integrated Shipping Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were issued a $3.17 dividend. The ex-dividend date was Monday, March 24th. This represents a $12.68 dividend on an annualized basis and a dividend yield of 68.85%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently 6.51%.

Institutional Trading of ZIM Integrated Shipping Services

A number of large investors have recently bought and sold shares of the business. NewEdge Advisors LLC acquired a new position in shares of ZIM Integrated Shipping Services in the 1st quarter valued at $210,000. Royal Bank of Canada lifted its holdings in shares of ZIM Integrated Shipping Services by 8.2% in the first quarter. Royal Bank of Canada now owns 40,827 shares of the company’s stock valued at $596,000 after purchasing an additional 3,102 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of ZIM Integrated Shipping Services by 20.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock valued at $68,879,000 after buying an additional 788,514 shares in the last quarter. Institutional investors and hedge funds own 21.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Bank of America cut their price target on shares of ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating for the company in a research note on Friday, April 11th. Jefferies Financial Group boosted their price objective on shares of ZIM Integrated Shipping Services from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. cut their price objective on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a report on Friday, March 7th. Finally, Barclays decreased their price target on shares of ZIM Integrated Shipping Services from $13.50 to $12.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.66.

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.