ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – What’s Next?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gapped up prior to trading on Tuesday . The stock had previously closed at $19.37, but opened at $20.24. ZIM Integrated Shipping Services shares last traded at $20.88, with a volume of 1,013,463 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ZIM shares. Jefferies Financial Group cut their price objective on ZIM Integrated Shipping Services from $28.00 to $22.00 and set a “hold” rating for the company in a report on Tuesday, December 17th. Barclays lowered their price objective on ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Fearnley Fonds downgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. Five equities research 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.04.

ZIM Integrated Shipping Services Trading Down 4.6 %

The stock has a market cap of $2.39 billion, a PE ratio of 1.66, a price-to-earnings-growth ratio of 0.23 and a beta of 1.74. The stock has a 50-day moving average of $19.25 and a 200 day moving average of $20.50. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a $2.81 dividend. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a yield of 56.68%. ZIM Integrated Shipping Services’s payout ratio is presently 9.72%.

Institutional Trading of ZIM Integrated Shipping Services

Several institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership boosted its position in ZIM Integrated Shipping Services by 33.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,784,352 shares of the company’s stock worth $81,250,000 after acquiring an additional 940,587 shares during the last quarter. JPMorgan Chase & Co. raised its position in ZIM Integrated Shipping Services by 59.4% in the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company’s stock valued at $46,482,000 after purchasing an additional 674,723 shares during the period. Allianz Asset Management GmbH boosted its holdings in ZIM Integrated Shipping Services by 39.5% during the 4th quarter. Allianz Asset Management GmbH now owns 1,389,034 shares of the company’s stock valued at $29,823,000 after acquiring an additional 393,215 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of ZIM Integrated Shipping Services by 4.5% in the third 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of ZIM Integrated Shipping Services by 26.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 599,258 shares of the company’s stock worth $15,377,000 after acquiring an additional 126,459 shares in the last quarter. Institutional investors and hedge funds own 21.42% of the company’s stock.

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.