ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Up 10.1% – Still a Buy?

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shot up 10.1% during trading on Monday . The stock traded as high as $15.82 and last traded at $16.13. 2,833,158 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 5,656,987 shares. The stock had previously closed at $14.65.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ZIM. Jefferies Financial Group restated a “hold” rating and set a $18.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday, March 12th. Barclays cut their target price on ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating on the stock in a research note on Monday, March 17th. Finally, JPMorgan Chase & Co. decreased 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 issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $13.54.

ZIM Integrated Shipping Services Trading Down 2.8 %

The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The firm has a market cap of $1.83 billion, a P/E ratio of 1.27, a price-to-earnings-growth ratio of 0.27 and a beta of 1.70. The firm’s 50-day simple moving average is $18.75 and its 200 day simple moving average is $20.59.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings results on Wednesday, March 12th. The company reported $4.66 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $1.19. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $1.99 billion. As a group, analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th will be given a dividend of $3.17 per share. This represents a $12.68 dividend on an annualized basis and a dividend yield of 83.48%. The ex-dividend date of this dividend is Monday, March 24th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. ZIM Integrated Shipping Services’s dividend payout ratio is currently 6.51%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several large investors have recently added to or reduced their stakes in ZIM. Renaissance Technologies LLC boosted its position in ZIM Integrated Shipping Services by 50.0% during the fourth quarter. Renaissance Technologies LLC now owns 5,726,631 shares of the company’s stock worth $122,951,000 after purchasing an additional 1,909,480 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in ZIM Integrated Shipping Services by 33.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,784,352 shares of the company’s stock worth $81,250,000 after buying an additional 940,587 shares during the period. BNP Paribas Financial Markets purchased a new position in ZIM Integrated Shipping Services in the 4th quarter valued at approximately $16,381,000. JPMorgan Chase & Co. raised its holdings in ZIM Integrated Shipping Services by 59.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock valued at $46,482,000 after acquiring an additional 674,723 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter worth $14,324,000. Hedge funds and other institutional investors 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.