ZIM Integrated Shipping Services (NYSE:ZIM) Shares Up 8.4% – Time to Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price traded up 8.4% on Thursday . The stock traded as high as $23.59 and last traded at $23.53. 2,584,039 shares traded hands during trading, a decline of 57% from the average session volume of 6,044,241 shares. The stock had previously closed at $21.70.

Analysts Set New Price Targets

ZIM has been the subject of several analyst reports. Bank of America boosted their price objective on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.50 target price on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Jefferies Financial Group lowered ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research report on Wednesday, October 2nd. Finally, Barclays increased their price objective on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $15.22.

ZIM Integrated Shipping Services Price Performance

The stock has a fifty day simple moving average of $20.52 and a two-hundred day simple moving average of $18.97. The company has a market cap of $2.85 billion, a PE ratio of -1.44, a price-to-earnings-growth ratio of 0.04 and a beta of 1.86. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.41.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $1.01. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the firm earned ($1.37) EPS. On average, equities analysts predict that ZIM Integrated Shipping Services Ltd. will post 12.11 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 29th were given a dividend of $0.93 per share. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. This represents a $3.72 annualized dividend and a dividend yield of 15.69%. The ex-dividend date of this dividend was Thursday, August 29th. ZIM Integrated Shipping Services’s payout ratio is currently -5.64%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp boosted its position in ZIM Integrated Shipping Services by 1.6% during 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 period. Janney Montgomery Scott LLC boosted its position in ZIM Integrated Shipping Services by 2.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 44,292 shares of the company’s stock worth $1,137,000 after purchasing an additional 915 shares during the period. Fairman Group LLC acquired a new position in ZIM Integrated Shipping Services in the 3rd quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in ZIM Integrated Shipping Services in the 3rd quarter worth $31,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in ZIM Integrated Shipping Services by 2,341.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after buying an additional 1,850 shares in the last quarter. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.