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

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares 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.

Analysts Set New Price Targets

Several research analysts have commented on the company. Clarkson Capital upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Barclays cut their price target on ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating on the stock in a report on Monday. Fearnley Fonds lowered ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st. Jefferies Financial Group reissued a “hold” rating and issued a $18.00 price target on shares of ZIM Integrated Shipping Services in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reduced 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 report on Friday, March 7th. Five 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. Based on data from MarketBeat.com, ZIM Integrated Shipping Services has a consensus rating of “Hold” and a consensus price target of $13.54.

ZIM Integrated Shipping Services Trading Up 2.0 %

The company has a 50-day moving average price of $18.98 and a 200 day moving average price of $20.59. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $2.26 billion, a P/E ratio of 1.57, a price-to-earnings-growth ratio of 0.27 and a beta of 1.70.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its 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. On average, research analysts forecast 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 announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Monday, March 24th will be paid a dividend of $3.17 per share. This represents a $12.68 annualized dividend and a yield of 67.45%. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. The ex-dividend date of this dividend is Monday, March 24th. ZIM Integrated Shipping Services’s payout ratio is 6.51%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZIM. GSA Capital Partners LLP purchased a new position in ZIM Integrated Shipping Services during the 3rd quarter worth $363,000. Segall Bryant & Hamill LLC purchased a new stake in ZIM Integrated Shipping Services during the 3rd quarter valued at about $2,294,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in ZIM Integrated Shipping Services by 26.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 599,258 shares of the company’s stock valued at $15,377,000 after purchasing an additional 126,459 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in ZIM Integrated Shipping Services by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company’s stock valued at $22,079,000 after purchasing an additional 36,692 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in ZIM Integrated Shipping Services during the 3rd quarter valued at about $548,000. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

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.