ZIM Integrated Shipping Services (NYSE:ZIM) Hits New 1-Year High at $23.88

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) reached a new 52-week high during trading on Tuesday . The company traded as high as $23.88 and last traded at $23.80, with a volume of 4959701 shares trading hands. The stock had previously closed at $22.33.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 price target on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Citigroup lowered ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and increased their price target for the company from $11.60 to $13.00 in a research report on Thursday, June 6th. Barclays raised their target price on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 target price on shares of ZIM Integrated Shipping Services in a research report on Monday, August 19th. Finally, Bank of America lifted their price objective on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a sell rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $14.84.

ZIM Integrated Shipping Services Stock Up 6.1 %

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 company has a 50-day moving average of $18.81 and a two-hundred day moving average of $16.79. The company has a market capitalization of $2.85 billion, a P/E ratio of -1.12, a price-to-earnings-growth ratio of 0.04 and a beta of 1.83.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced 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. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. During the same period in the prior year, the company posted ($1.37) earnings per share. On average, research analysts predict that ZIM Integrated Shipping Services Ltd. will post 10.87 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The company 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 represents a $3.72 dividend on an annualized basis and a yield of 15.70%. The ex-dividend date of this dividend was Thursday, August 29th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. ZIM Integrated Shipping Services’s dividend payout ratio is -4.35%.

Institutional Trading of ZIM Integrated Shipping Services

Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC increased its position in ZIM Integrated Shipping Services by 479.9% in the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock worth $58,429,000 after buying an additional 2,181,000 shares in the last quarter. Marshall Wace LLP increased its position in ZIM Integrated Shipping Services by 638.6% in the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock worth $53,148,000 after buying an additional 2,072,715 shares in the last quarter. Encompass Capital Advisors LLC purchased a new stake in ZIM Integrated Shipping Services in the second quarter worth about $14,383,000. Millennium Management LLC increased its position in ZIM Integrated Shipping Services by 306.7% in the second quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock worth $9,440,000 after buying an additional 321,100 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in ZIM Integrated Shipping Services in the second quarter worth about $5,849,000. Hedge funds and other institutional investors own 21.42% of the company’s stock.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd., 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.