ZIM Integrated Shipping Services (NYSE:ZIM) Reaches New 1-Year High – Time to Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $27.14 and last traded at $26.61, with a volume of 1556668 shares changing hands. The stock had previously closed at $25.01.

Analyst Ratings Changes

A number of analysts have recently weighed in on ZIM shares. Jefferies Financial Group cut ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Barclays upped their price objective on shares of ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Finally, Bank of America lifted their target price on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $15.22.

ZIM Integrated Shipping Services Stock Performance

The company has a market capitalization of $3.28 billion, a PE ratio of -1.64, a PEG ratio of 0.04 and a beta of 1.88. The firm has a 50-day moving average of $21.60 and a two-hundred day moving average of $19.91. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.41.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $1.01. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.71 billion. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. During the same period in the previous year, the business posted ($1.37) EPS. Research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 12.11 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 29th were given a dividend of $0.93 per share. The ex-dividend date was Thursday, August 29th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. This represents a $3.72 dividend on an annualized basis and a dividend yield of 13.67%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is -1.41%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in shares of 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 valued at $58,429,000 after purchasing an additional 2,181,000 shares during the period. Marshall Wace LLP lifted its position in shares of 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 valued at $53,148,000 after acquiring an additional 2,072,715 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of ZIM Integrated Shipping Services by 7.8% in the second quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock worth $39,000,000 after acquiring an additional 127,229 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in 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 purchasing an additional 36,692 shares during the last quarter. Finally, Encompass Capital Advisors LLC purchased a new position in ZIM Integrated Shipping Services in the 2nd quarter valued at $14,383,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Company Profile

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.