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

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $14.27, but opened at $16.70. ZIM Integrated Shipping Services shares last traded at $16.75, with a volume of 6,094,077 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. 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 research report on Friday, March 7th. Jefferies Financial Group reiterated a “hold” rating and issued a $18.00 target price on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 12th. Barclays lowered their price objective on shares of ZIM Integrated Shipping Services from $13.50 to $12.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Finally, Bank of America lowered their price target on ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating for the company in a research report on Friday, April 11th. Five research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $13.06.

ZIM Integrated Shipping Services Stock Up 15.9%

The firm has a market capitalization of $1.99 billion, a PE ratio of 1.39, a price-to-earnings-growth ratio of 0.27 and a beta of 1.84. The business has a 50-day moving average price of $15.39 and a 200-day moving average price of $18.89. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Wednesday, March 12th. The company reported $4.66 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.99 billion. 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 declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were paid a dividend of $3.17 per share. This represents a $12.68 dividend on an annualized basis and a yield of 76.64%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. The ex-dividend date of this dividend was Monday, March 24th. ZIM Integrated Shipping Services’s dividend payout ratio is 6.51%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its stake in ZIM Integrated Shipping Services by 4.9% during the fourth quarter. Lazard Asset Management LLC now owns 15,443 shares of the company’s stock worth $331,000 after purchasing an additional 722 shares in the last quarter. Mark Sheptoff Financial Planning LLC raised its stake 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 valued at $92,000 after acquiring an additional 900 shares in the last quarter. Regatta Capital Group LLC raised its stake in shares of ZIM Integrated Shipping Services by 7.6% in the first quarter. Regatta Capital Group LLC now owns 14,699 shares of the company’s stock valued at $214,000 after acquiring an additional 1,040 shares in the last quarter. Altshuler Shaham Ltd raised 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 acquiring an additional 1,300 shares in the last quarter. Finally, Truist Financial Corp raised its stake in shares of ZIM Integrated Shipping Services by 10.2% in the fourth quarter. Truist Financial Corp now owns 14,804 shares of the company’s stock valued at $318,000 after acquiring an additional 1,376 shares in the last quarter. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.