ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – Should You Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped up before the market opened on Tuesday . The stock had previously closed at $17.17, but opened at $18.36. ZIM Integrated Shipping Services shares last traded at $18.4780, with a volume of 4,892,139 shares.

Wall Street Analyst Weigh In

ZIM has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of ZIM Integrated Shipping Services in a report on Wednesday, October 8th. Barclays cut their target price on ZIM Integrated Shipping Services from $14.80 to $13.30 and set an “underweight” rating on the stock in a research report on Thursday, August 28th. UBS Group set a $9.70 target price on ZIM Integrated Shipping Services in a report on Monday. JPMorgan Chase & Co. cut their price target on ZIM Integrated Shipping Services from $10.00 to $9.70 and set an “underweight” rating on the stock in a report on Monday. Finally, Wall Street Zen lowered shares of ZIM Integrated Shipping Services from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Three analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Strong Sell” and a consensus price target of $13.42.

ZIM Integrated Shipping Services Stock Performance

The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 1.12. The company’s 50-day moving average is $14.77 and its two-hundred day moving average is $15.61. The firm has a market cap of $2.37 billion, a P/E ratio of 2.37 and a beta of 1.73.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings data on Thursday, November 20th. The company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.65). The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.74 billion. ZIM Integrated Shipping Services had a return on equity of 25.18% and a net margin of 13.22%. As a group, equities analysts predict that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.31 per share. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, December 1st. This represents a $1.24 annualized dividend and a yield of 6.3%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is 2.88%.

Institutional Trading of ZIM Integrated Shipping Services

Several institutional investors and hedge funds have recently made changes to their positions in ZIM. Legacy Investment Solutions LLC purchased a new position in ZIM Integrated Shipping Services during the second quarter worth about $26,000. Quarry LP bought a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter worth approximately $34,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of ZIM Integrated Shipping Services in the 2nd quarter worth approximately $37,000. Larson Financial Group LLC grew its holdings in shares of ZIM Integrated Shipping Services by 158.8% in the third quarter. Larson Financial Group LLC now owns 3,256 shares of the company’s stock valued at $44,000 after acquiring an additional 1,998 shares in the last quarter. Finally, Triumph Capital Management purchased a new stake in shares of ZIM Integrated Shipping Services during the third quarter valued at approximately $44,000. 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.