ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – Here’s Why

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) 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.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ZIM. Barclays decreased their price objective on shares of ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating for the company in a research report on Monday. Fearnley Fonds cut shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. Jefferies Financial Group restated a “hold” rating and issued a $18.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Wednesday, March 12th. JPMorgan Chase & Co. dropped their price objective on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating on the stock in a report on Friday, March 7th. Finally, Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.54.

ZIM Integrated Shipping Services Price Performance

The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 1.55, a PEG ratio of 0.27 and a beta of 1.70. The stock has a 50-day moving average price of $19.10 and a 200 day moving average price of $20.59.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings results on Wednesday, March 12th. The company reported $4.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $1.19. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $1.99 billion. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. As a group, equities 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 company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th will be issued a $3.17 dividend. This represents a $12.68 dividend on an annualized basis and a yield of 68.77%. This is a positive change 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 dividend payout ratio is 6.51%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC raised its stake in shares of ZIM Integrated Shipping Services by 4.9% in the 4th quarter. Lazard Asset Management LLC now owns 15,443 shares of the company’s stock valued at $331,000 after acquiring an additional 722 shares during the period. Mark Sheptoff Financial Planning LLC boosted its position in shares of ZIM Integrated Shipping Services by 26.5% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,300 shares of the company’s stock worth $92,000 after buying an additional 900 shares during the period. Altshuler Shaham Ltd grew its stake in shares of ZIM Integrated Shipping Services by 650.0% in the fourth quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company’s stock valued at $32,000 after buying an additional 1,300 shares in the last quarter. Truist Financial Corp lifted its position in ZIM Integrated Shipping Services by 10.2% during the 4th quarter. Truist Financial Corp now owns 14,804 shares of the company’s stock worth $318,000 after acquiring an additional 1,376 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in ZIM Integrated Shipping Services by 20.5% in the 4th quarter. HighTower Advisors LLC now owns 12,246 shares of the company’s stock worth $263,000 after acquiring an additional 2,080 shares during the period. 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.