ZIM Integrated Shipping Services (NYSE:ZIM) Sets New 12-Month High – Here’s Why

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price hit a new 52-week high on Monday . The company traded as high as $23.03 and last traded at $23.0790, with a volume of 1222158 shares. The stock had previously closed at $22.40.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of ZIM Integrated Shipping Services from a “sell” rating to a “hold” rating in a report on Friday, November 28th. Fearnley Fonds upgraded shares of ZIM Integrated Shipping Services from a “strong sell” rating to a “hold” rating in a research report on Friday, December 19th. UBS Group set a $9.70 price objective on shares of ZIM Integrated Shipping Services in a research note on Monday, November 24th. Barclays raised their price objective on ZIM Integrated Shipping Services from $13.30 to $13.70 and gave the stock an “underweight” rating in a research note on Friday, December 19th. Finally, JPMorgan Chase & Co. lowered their target price 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. Four equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, ZIM Integrated Shipping Services currently has a consensus rating of “Reduce” and an average price target of $14.15.

ZIM Integrated Shipping Services Stock Up 3.9%

The firm’s 50-day moving average is $19.02 and its two-hundred day moving average is $16.32. The stock has a market cap of $2.80 billion, a P/E ratio of 2.80 and a beta of 1.70. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.22 and a current ratio of 1.30.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its earnings results on Thursday, November 20th. The company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.65). The business 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%. On average, equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 8th. Shareholders of record on Monday, December 1st were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 5.3%. This is an increase 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 payout ratio is currently 2.88%.

Institutional Trading of ZIM Integrated Shipping Services

Several hedge funds and other institutional investors have recently modified their holdings of ZIM. Arrowstreet Capital Limited Partnership grew its position in shares of ZIM Integrated Shipping Services by 134.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,368,287 shares of the company’s stock valued at $70,286,000 after purchasing an additional 2,508,432 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of ZIM Integrated Shipping Services by 29,305.7% in the second quarter. BNP Paribas Financial Markets now owns 1,310,614 shares of the company’s stock valued at $21,088,000 after acquiring an additional 1,306,157 shares during the period. Yelin Lapidot Holdings Management Ltd. grew its stake in shares of ZIM Integrated Shipping Services by 96.7% in the third quarter. Yelin Lapidot Holdings Management Ltd. now owns 2,422,986 shares of the company’s stock valued at $32,831,000 after acquiring an additional 1,191,480 shares in the last quarter. Jump Financial LLC raised its stake in ZIM Integrated Shipping Services by 204.0% in the second quarter. Jump Financial LLC now owns 1,536,092 shares of the company’s stock valued at $24,716,000 after purchasing an additional 1,030,817 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in ZIM Integrated Shipping Services in the second quarter valued at approximately $15,850,000. Institutional investors own 21.42% of the company’s stock.

About ZIM Integrated Shipping Services

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.