Traders Purchase Large Volume of ZIM Integrated Shipping Services Call Options (NYSE:ZIM)

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) saw some unusual options trading on Wednesday. Investors purchased 42,997 call options on the stock. This is an increase of 34% compared to the average volume of 32,121 call options.

ZIM Integrated Shipping Services Stock Down 10.2 %

Shares of NYSE ZIM opened at $24.26 on Friday. ZIM Integrated Shipping Services has a 52-week low of $6.39 and a 52-week high of $30.15. The company’s 50-day simple moving average is $22.67 and its 200-day simple moving average is $20.40. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.41. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -1.49, a price-to-earnings-growth ratio of 0.04 and a beta of 1.88.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings data on Monday, August 19th. The company reported $3.08 EPS for the quarter, beating the consensus estimate of $2.07 by $1.01. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the company earned ($1.37) EPS. Equities analysts predict that ZIM Integrated Shipping Services will post 13.65 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be paid a $2.81 dividend. This represents a $11.24 dividend on an annualized basis and a yield of 46.34%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date is Monday, December 2nd. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is -7.12%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its stake in ZIM Integrated Shipping Services by 479.9% during the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock worth $58,429,000 after acquiring an additional 2,181,000 shares during the last quarter. Marshall Wace LLP increased its position in shares of ZIM Integrated Shipping Services by 638.6% during the 2nd quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock worth $53,148,000 after purchasing an additional 2,072,715 shares during the last quarter. American Century Companies Inc. raised its holdings in ZIM Integrated Shipping Services by 7.8% in the 2nd quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock valued at $39,000,000 after buying an additional 127,229 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of ZIM Integrated Shipping Services by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company’s stock valued at $22,079,000 after acquiring an additional 36,692 shares during the period. Finally, Encompass Capital Advisors LLC acquired a new position in shares of ZIM Integrated Shipping Services in the 2nd quarter worth approximately $14,383,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays raised their price target on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Bank of America increased 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. Jefferies Financial Group reaffirmed a “hold” rating and set a $25.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company. Based on data from MarketBeat.com, ZIM Integrated Shipping Services currently has a consensus rating of “Reduce” and an average price target of $15.22.

About ZIM Integrated Shipping Services

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.