Analysts Set ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) PT at $17.83

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) have been given an average recommendation of “Hold” by the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $17.8333.

A number of equities analysts recently commented on ZIM shares. Barclays raised their price objective on shares of ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the stock an “underweight” rating in a research note on Monday, March 16th. Weiss Ratings lowered shares of ZIM Integrated Shipping Services from a “buy (b-)” rating to a “hold (c-)” rating in a research note on Tuesday, March 10th. Fearnley Fonds upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Finally, Citigroup upgraded shares of ZIM Integrated Shipping Services from a “sell” rating to a “neutral” rating and increased their target price for the stock from $11.50 to $31.80 in a research report on Thursday, February 19th.

ZIM Integrated Shipping Services Trading Down 0.1%

ZIM Integrated Shipping Services stock opened at $23.46 on Wednesday. The company has a 50 day moving average price of $26.08 and a 200 day moving average price of $23.66. ZIM Integrated Shipping Services has a 52 week low of $12.33 and a 52 week high of $29.97. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.19. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 28.96 and a beta of 1.21.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings data on Thursday, May 21st. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.50). ZIM Integrated Shipping Services had a negative return on equity of 0.26% and a net margin of 1.56%.The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.48 billion. Research analysts forecast that ZIM Integrated Shipping Services will post -7.24 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Friday, March 20th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 15.0%. The ex-dividend date was Friday, March 20th. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.31. ZIM Integrated Shipping Services’s payout ratio is currently 7.41%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hoey Investments Inc. purchased a new stake in ZIM Integrated Shipping Services in the 4th quarter worth approximately $25,000. Lodestone Wealth Management LLC purchased a new stake in ZIM Integrated Shipping Services in the 4th quarter worth approximately $29,000. Huntington National Bank lifted its position 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 worth $42,000 after buying an additional 2,000 shares in the last quarter. Assetmark Inc. bought a new position in shares of ZIM Integrated Shipping Services during the 1st quarter valued at $59,000. Finally, Quarry LP bought a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

About ZIM Integrated Shipping Services

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.