ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up - Still a Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $14.27, but opened at $16.70. ZIM Integrated Shipping Services shares last traded at $16.75, with a volume of 6,094,077 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays reduced their target price on shares of ZIM Integrated Shipping Services from $13.50 to $12.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Bank of America reduced their price objective on ZIM Integrated Shipping Services from $16.00 to $12.80 and set an "underperform" rating for the company in a research note on Friday, April 11th. Jefferies Financial Group upped their target price on ZIM Integrated Shipping Services from $15.00 to $16.00 and gave the stock a "hold" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their price target on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an "underweight" rating for the company in a research report on Friday, March 7th. Five research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $12.66.

ZIM Integrated Shipping Services Price Performance

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 50-day moving average price of $15.23 and a 200 day moving average price of $18.83. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 1.53, a PEG ratio of 0.27 and a beta of 1.84.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The company reported $4.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $1.19. The company 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, equities research analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were given a dividend of $3.17 per share. The ex-dividend date was Monday, March 24th. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $2.81. This represents a $12.68 dividend on an annualized basis and a yield of 69.36%. ZIM Integrated Shipping Services's dividend payout ratio is currently 6.51%.

Institutional Trading of ZIM Integrated Shipping Services

Several institutional investors have recently modified their holdings of ZIM. New York State Common Retirement Fund acquired a new stake in ZIM Integrated Shipping Services during the 1st quarter worth $30,000. Altshuler Shaham Ltd raised its position in shares of ZIM Integrated Shipping Services by 650.0% during the 4th quarter. Altshuler Shaham Ltd now owns 1,500 shares of the company's stock valued at $32,000 after buying an additional 1,300 shares during the period. Employees Retirement System of Texas acquired a new position in ZIM Integrated Shipping Services in the fourth quarter valued at approximately $45,000. Brown Brothers Harriman & Co. purchased a new position in ZIM Integrated Shipping Services in the fourth quarter worth approximately $79,000. Finally, R Squared Ltd acquired a new stake in ZIM Integrated Shipping Services during the fourth quarter worth $88,000. 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.