ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up – Time to Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s share price gapped up before the market opened on Monday . The stock had previously closed at $18.24, but opened at $19.05. ZIM Integrated Shipping Services shares last traded at $18.93, with a volume of 2,385,748 shares changing hands.

Wall Street Analysts Forecast Growth

ZIM has been the topic of several recent analyst reports. Barclays cut their price target on ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating on the stock in a research note on Monday. Fearnley Fonds cut shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Jefferies Financial Group reaffirmed a “hold” rating and set a $18.00 price target on shares of ZIM Integrated Shipping Services in a research report on Wednesday, March 12th. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. dropped their price target 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. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.54.

ZIM Integrated Shipping Services Stock Up 1.1 %

The business’s 50 day simple moving average is $19.10 and its 200 day simple moving average is $20.59. The company has a market capitalization of $2.22 billion, a PE ratio of 1.55, a price-to-earnings-growth ratio of 0.27 and a beta of 1.70. 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 (NYSE:ZIM) last posted its quarterly earnings results on Wednesday, March 12th. The company reported $4.66 earnings per share for the quarter, beating the consensus estimate of $3.47 by $1.19. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.99 billion. As a group, analysts forecast that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Monday, March 24th will be given a dividend of $3.17 per share. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. The ex-dividend date is Monday, March 24th. This represents a $12.68 dividend on an annualized basis and a yield of 68.77%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is presently 6.51%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter worth $363,000. Segall Bryant & Hamill LLC bought a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter worth about $2,294,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of ZIM Integrated Shipping Services by 26.7% during the 3rd 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. Charles Schwab Investment Management Inc. increased its holdings in shares of ZIM Integrated Shipping Services by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 860,456 shares of the company’s stock valued at $22,079,000 after acquiring an additional 36,692 shares during the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in ZIM Integrated Shipping Services in the 3rd quarter worth approximately $548,000. Institutional investors and hedge funds own 21.42% of the company’s stock.

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.