ZIM Integrated Shipping Services (NYSE:ZIM) Issues Earnings Results, Beats Estimates By $0.61 EPS

ZIM Integrated Shipping Services (NYSE:ZIM) issued its quarterly earnings results on Monday. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.61, RTT News reports. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. During the same quarter last year, the company posted $0.75 earnings per share.

ZIM Integrated Shipping Services Stock Performance

ZIM Integrated Shipping Services stock opened at $18.42 on Monday. The firm has a 50-day moving average of $15.14 and a 200-day moving average of $18.71. ZIM Integrated Shipping Services has a 1-year low of $11.04 and a 1-year high of $30.15. The firm has a market cap of $2.22 billion, a P/E ratio of 1.54, a P/E/G ratio of 0.27 and a beta of 1.84. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Monday, March 24th were paid a $3.17 dividend. This represents a $12.68 dividend on an annualized basis and a yield of 68.85%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. The ex-dividend date was Monday, March 24th. ZIM Integrated Shipping Services’s payout ratio is currently 6.51%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several large investors have recently added to or reduced their stakes in ZIM. NewEdge Advisors LLC purchased a new position in shares of ZIM Integrated Shipping Services in the 1st quarter valued at $210,000. Royal Bank of Canada lifted its stake in ZIM Integrated Shipping Services by 8.2% during the first quarter. Royal Bank of Canada now owns 40,827 shares of the company’s stock worth $596,000 after purchasing an additional 3,102 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in ZIM Integrated Shipping Services by 20.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock valued at $68,879,000 after buying an additional 788,514 shares during the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ZIM. Barclays cut their price objective on 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. Bank of America lowered their price target on ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. reduced their price target on shares of 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. Finally, Jefferies Financial Group lifted their target price on shares of ZIM Integrated Shipping Services from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Tuesday, May 13th. Five investment 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, the company currently has an average rating of “Hold” and a consensus price target of $12.66.

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.