ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – Should You Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares gapped up before the market opened on Tuesday . The stock had previously closed at $19.88, but opened at $21.29. ZIM Integrated Shipping Services shares last traded at $21.2340, with a volume of 1,604,961 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays raised their price objective on shares of ZIM Integrated Shipping Services from $13.30 to $13.70 and gave the stock an “underweight” rating in a report on Friday, December 19th. Wall Street Zen upgraded ZIM Integrated Shipping Services from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. JPMorgan Chase & Co. reduced their price target on ZIM Integrated Shipping Services from $9.70 to $8.70 and set an “underweight” rating on the stock in a research note on Monday, December 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of ZIM Integrated Shipping Services in a report on Wednesday, October 8th. Finally, UBS Group set a $9.70 target price on shares of ZIM Integrated Shipping Services in a report on Monday, November 24th. Four equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, ZIM Integrated Shipping Services has a consensus rating of “Reduce” and an average price target of $14.15.

ZIM Integrated Shipping Services Stock Up 0.2%

The company has a debt-to-equity ratio of 1.12, a current ratio of 1.30 and a quick ratio of 1.22. The stock has a 50 day simple moving average of $17.22 and a 200-day simple moving average of $15.93. The firm has a market cap of $2.54 billion, a PE ratio of 2.53 and a beta of 1.70.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings results on Thursday, November 20th. The company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.65). The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. ZIM Integrated Shipping Services had a net margin of 13.22% and a return on equity of 25.18%. Sell-side analysts predict that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 8th. Shareholders of record on Monday, December 1st were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 5.9%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Monday, December 1st. ZIM Integrated Shipping Services’s dividend payout ratio is presently 2.88%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several institutional investors and hedge funds have recently made changes to their positions in ZIM. Legacy Investment Solutions LLC bought a new position in ZIM Integrated Shipping Services in the 2nd quarter valued at approximately $26,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of ZIM Integrated Shipping Services in the second quarter worth $37,000. Quarry LP bought a new position in shares of ZIM Integrated Shipping Services during the third quarter valued at $34,000. Larson Financial Group LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 158.8% during the third quarter. Larson Financial Group LLC now owns 3,256 shares of the company’s stock valued at $44,000 after purchasing an additional 1,998 shares in the last quarter. Finally, Triumph Capital Management purchased a new stake in shares of ZIM Integrated Shipping Services during the third quarter valued at $44,000. Institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Company Profile

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.