ZIM Integrated Shipping Services (NYSE:ZIM) Announces Quarterly Earnings Results

ZIM Integrated Shipping Services (NYSE:ZIM) posted its earnings results on Monday. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.56, RTT News reports. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.84 billion. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. During the same quarter in the prior year, the company earned $0.75 earnings per share.

ZIM Integrated Shipping Services Price Performance

Shares of NYSE ZIM traded up $1.12 during mid-day trading on Monday, reaching $19.45. The company had a trading volume of 21,733,184 shares, compared to its average volume of 6,184,341. ZIM Integrated Shipping Services has a 1-year low of $11.04 and a 1-year high of $30.15. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The stock has a market cap of $2.34 billion, a PE ratio of 1.63, a P/E/G ratio of 0.27 and a beta of 1.84. The company has a 50-day moving average price of $15.14 and a two-hundred day moving average price of $18.71.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th were paid a $3.17 dividend. This represents a $12.68 dividend on an annualized basis and a dividend yield of 65.19%. The ex-dividend date of this dividend was Monday, March 24th. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. ZIM Integrated Shipping Services’s payout ratio is currently 6.51%.

Institutional Trading of ZIM Integrated Shipping Services

A number of institutional investors and hedge funds have recently made changes to their positions in ZIM. NewEdge Advisors LLC acquired a new position in shares of ZIM Integrated Shipping Services during the 1st quarter worth about $210,000. Royal Bank of Canada raised its holdings in ZIM Integrated Shipping Services by 8.2% in the 1st quarter. Royal Bank of Canada now owns 40,827 shares of the company’s stock valued at $596,000 after acquiring an additional 3,102 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in ZIM Integrated Shipping Services by 20.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company’s stock valued at $68,879,000 after acquiring an additional 788,514 shares in the last quarter. Institutional investors and hedge funds own 21.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ZIM. JPMorgan Chase & Co. reduced their target price 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 raised their price objective on ZIM Integrated Shipping Services from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Tuesday, May 13th. Barclays cut their price objective on ZIM Integrated Shipping Services from $13.50 to $12.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. Finally, Bank of America dropped their target price 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. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.66.

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.