ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Receives $17.21 Consensus PT from Analysts

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) has been assigned a consensus recommendation of “Reduce” from the nine brokerages that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $17.4750.

Several brokerages recently commented on ZIM. Weiss Ratings lowered shares of ZIM Integrated Shipping Services from a “buy (b-)” rating to a “hold (c-)” rating in a report on Tuesday, March 10th. Citigroup raised shares of ZIM Integrated Shipping Services from a “sell” rating to a “neutral” rating and increased their price objective for the company from $11.50 to $31.80 in a report on Thursday, February 19th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $21.00 target price on shares of ZIM Integrated Shipping Services in a research report on Wednesday, January 14th. Jefferies Financial Group boosted their target price on shares of ZIM Integrated Shipping Services from $15.00 to $20.00 and gave the stock a “hold” rating in a research note on Monday, December 8th. Finally, UBS Group set a $9.70 price target on shares of ZIM Integrated Shipping Services in a research report on Monday, November 24th.

ZIM Integrated Shipping Services Stock Down 0.6%

Shares of ZIM opened at $26.98 on Friday. The firm has a market cap of $3.25 billion, a P/E ratio of 6.78 and a beta of 1.57. ZIM Integrated Shipping Services has a 12 month low of $11.03 and a 12 month high of $29.97. The stock’s 50 day moving average is $24.87 and its two-hundred day moving average is $19.42. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 1.14.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Monday, March 9th. The company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($1.01) by $0.43. ZIM Integrated Shipping Services had a return on equity of 9.33% and a net margin of 6.94%.The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.54 billion. Analysts predict that ZIM Integrated Shipping Services will post 16.75 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Friday, March 20th will be paid a dividend of $0.88 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, March 20th. This represents a $3.52 annualized dividend and a yield of 13.0%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently 1.51%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hoey Investments Inc. purchased a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter worth approximately $25,000. Lodestone Wealth Management LLC purchased a new position in ZIM Integrated Shipping Services in the 4th quarter valued at $29,000. Huntington National Bank lifted its holdings in ZIM Integrated Shipping Services by 200,000.0% in the 4th quarter. Huntington National Bank now owns 2,001 shares of the company’s stock valued at $42,000 after purchasing an additional 2,000 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in ZIM Integrated Shipping Services during the 2nd quarter worth $37,000. Finally, Quarry LP acquired a new stake in ZIM Integrated Shipping Services during the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Company Profile

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.