ZIM Integrated Shipping Services (NYSE:ZIM - Free Report) had its price objective trimmed by Bank of America from $16.00 to $12.80 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an underperform rating on the stock.
ZIM has been the topic of a number of other research reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a $18.00 target price on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 12th. JPMorgan Chase & Co. reduced their target price on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an "underweight" rating on the stock in a report on Friday, March 7th. Finally, Barclays reduced their price objective on shares of ZIM Integrated Shipping Services from $16.00 to $13.50 and set an "underweight" rating on the stock in a research note on Monday, March 17th. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $13.36.
Check Out Our Latest Analysis on ZIM Integrated Shipping Services
ZIM Integrated Shipping Services Stock Performance
Shares of ZIM Integrated Shipping Services stock traded down $0.67 during trading hours on Friday, hitting $13.55. 4,045,144 shares of the company were exchanged, compared to its average volume of 6,073,068. 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 business has a 50-day moving average of $17.70 and a 200-day moving average of $19.88. ZIM Integrated Shipping Services has a 1 year low of $9.75 and a 1 year high of $30.15. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 1.13, a P/E/G ratio of 0.27 and a beta of 1.84.
ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The company reported $4.66 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $1.19. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.99 billion. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. As a group, analysts expect that ZIM Integrated Shipping Services will post 16.75 EPS for the current fiscal year.
ZIM Integrated Shipping Services Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were paid a $3.17 dividend. This represents a $12.68 dividend on an annualized basis and a yield of 93.58%. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $2.81. The ex-dividend date of this dividend was Monday, March 24th. 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 institutional investors and hedge funds have recently bought and sold shares of ZIM. JPMorgan Chase & Co. lifted its stake in ZIM Integrated Shipping Services by 59.4% during 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 last quarter. Raymond James Financial Inc. acquired a new position in shares of ZIM Integrated Shipping Services in the 4th quarter worth $1,771,000. Decker Retirement Planning Inc. acquired a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter worth $5,509,000. HighTower Advisors LLC boosted its position in shares of ZIM Integrated Shipping Services by 20.5% in the 4th quarter. HighTower Advisors LLC now owns 12,246 shares of the company's stock valued at $263,000 after purchasing an additional 2,080 shares during the period. Finally, Truist Financial Corp increased its stake in ZIM Integrated Shipping Services by 10.2% in the 4th quarter. Truist Financial Corp now owns 14,804 shares of the company's stock worth $318,000 after purchasing an additional 1,376 shares in the last quarter. Institutional investors own 21.42% of the company's stock.
ZIM Integrated Shipping Services Company Profile
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Get Free Report)
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.
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