ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – Still a Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price gapped up before the market opened on Monday . The stock had previously closed at $18.24, but opened at $19.05. ZIM Integrated Shipping Services shares last traded at $18.93, with a volume of 2,385,748 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ZIM shares. Jefferies Financial Group reissued a “hold” rating and set a $18.00 price target on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 12th. JPMorgan Chase & Co. dropped their price target on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a research note on Friday, March 7th. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Fearnley Fonds lowered ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. Finally, Barclays decreased their price objective on ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating on the stock in a research report on Monday. Five research 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 stock. According to MarketBeat.com, ZIM Integrated Shipping Services currently has an average rating of “Hold” and an average price target of $13.54.

ZIM Integrated Shipping Services Stock Performance

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 business has a 50-day simple moving average of $18.98 and a 200-day simple moving average of $20.59. The firm has a market capitalization of $2.26 billion, a PE ratio of 1.57, a P/E/G ratio of 0.27 and a beta of 1.70.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings results on Wednesday, March 12th. The company reported $4.66 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.99 billion. Equities research analysts expect 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th will be issued a $3.17 dividend. This represents a $12.68 annualized dividend and a dividend yield of 67.45%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. The ex-dividend date is Monday, March 24th. ZIM Integrated Shipping Services’s dividend payout ratio is presently 6.51%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several hedge funds and other institutional investors have recently modified their holdings of the business. Employees Retirement System of Texas purchased a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter worth approximately $45,000. Mackenzie Financial Corp purchased a new stake in shares of ZIM Integrated Shipping Services in the fourth quarter worth approximately $559,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in ZIM Integrated Shipping Services by 31.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 284,186 shares of the company’s stock worth $6,101,000 after purchasing an additional 68,708 shares during the period. Tidal Investments LLC increased its holdings in ZIM Integrated Shipping Services by 19.0% during the 4th quarter. Tidal Investments LLC now owns 81,539 shares of the company’s stock worth $1,751,000 after purchasing an additional 13,009 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in ZIM Integrated Shipping Services during the 4th quarter worth $14,324,000. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

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.