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

Key Points

• ZIM Integrated Shipping Services shares gapped up to $17.84 from a previous close of $15.50, indicating a significant interest in the stock with a trading volume of 7,533,722 shares.
• Analysts have mixed views on ZIM; Clarkson Capital downgraded the stock to "neutral" with a target of $20.00, while Citigroup reaffirmed a "sell" rating, contributing to an average consensus rating of "Reduce" with a target of $14.82.
• The company announced a substantial dividend of $0.74, yielding an impressive 1,696.0%, reflecting a low payout ratio of 4.76% and reinforcing its financial stability after posting earnings of $2.45 per share, exceeding expectations.

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $15.50, but opened at $17.84. ZIM Integrated Shipping Services shares last traded at $17.73, with a volume of 7,533,722 shares changing hands.

Wall Street Analyst Weigh In

ZIM has been the topic of several recent research reports. Clarkson Capital cut ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price target on the stock. in a report on Tuesday, May 20th. Barclays increased their target price on ZIM Integrated Shipping Services from $14.20 to $14.80 and gave the company an "underweight" rating in a research note on Friday, June 27th. Citigroup reissued a "sell" rating on shares of ZIM Integrated Shipping Services in a research note on Monday. Finally, Jefferies Financial Group increased their target price on ZIM Integrated Shipping Services from $16.00 to $17.00 and gave the company a "hold" rating in a research note on Tuesday, May 20th. Five equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $14.82.

ZIM Integrated Shipping Services Stock Down 3.8%

The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 0.84, a price-to-earnings-growth ratio of 0.23 and a beta of 1.75. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.18 and a quick ratio of 1.10. The firm has a 50 day simple moving average of $16.32 and a two-hundred day simple moving average of $16.75.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last released its quarterly earnings data on Monday, May 19th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.56. ZIM Integrated Shipping Services had a return on equity of 63.46% and a net margin of 26.52%. The business had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the business posted $0.75 EPS. As a group, sell-side analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 EPS for the current year.

ZIM Integrated Shipping Services Announces Dividend

The firm also recently disclosed a dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $0.74 per share. This represents a dividend yield of 1,696.0%. The ex-dividend date was Monday, June 2nd. ZIM Integrated Shipping Services's payout ratio is 4.76%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Institutional investors have recently modified their holdings of the business. Northern Trust Corp lifted its stake in ZIM Integrated Shipping Services by 150.2% in the 4th quarter. Northern Trust Corp now owns 212,148 shares of the company's stock valued at $4,555,000 after acquiring an additional 127,367 shares in the last quarter. Mariner LLC bought a new stake in ZIM Integrated Shipping Services in the 4th quarter valued at approximately $735,000. Janney Montgomery Scott LLC lifted its stake in ZIM Integrated Shipping Services by 13.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 53,658 shares of the company's stock valued at $783,000 after acquiring an additional 6,519 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in ZIM Integrated Shipping Services by 7.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 97,812 shares of the company's stock valued at $1,427,000 after acquiring an additional 6,873 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in ZIM Integrated Shipping Services by 121.7% in the 4th quarter. Russell Investments Group Ltd. now owns 12,595 shares of the company's stock valued at $270,000 after acquiring an additional 6,913 shares in the last quarter. Institutional investors 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.