ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up - Here's Why

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) gapped up before the market opened 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.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ZIM. Clarkson Capital lowered ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price target on the stock. in a research report on Tuesday, May 20th. Jefferies Financial Group lifted 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. Barclays increased their price target on shares of ZIM Integrated Shipping Services from $14.20 to $14.80 and gave the stock an "underweight" rating in a research report on Friday, June 27th. Finally, Citigroup reaffirmed a "sell" rating on shares of ZIM Integrated Shipping Services in a research report on Monday. Five investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. Based on data from MarketBeat, ZIM Integrated Shipping Services has an average rating of "Reduce" and a consensus price target of $14.82.

ZIM Integrated Shipping Services Trading Up 12.3%

The company's fifty day moving average price is $16.30 and its two-hundred day moving average price is $16.75. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 0.89, a price-to-earnings-growth ratio of 0.21 and a beta of 1.75. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 1.16.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its earnings results on Monday, May 19th. The company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company posted $0.75 earnings per share. Research analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Announces Dividend

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

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its holdings in shares of ZIM Integrated Shipping Services by 20.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company's stock valued at $68,879,000 after buying an additional 788,514 shares during the period. American Century Companies Inc. increased its holdings in ZIM Integrated Shipping Services by 19.1% during the 1st quarter. American Century Companies Inc. now owns 2,280,289 shares of the company's stock worth $33,269,000 after purchasing an additional 366,205 shares in the last quarter. Marshall Wace LLP raised its stake in shares of ZIM Integrated Shipping Services by 6.9% in the 4th quarter. Marshall Wace LLP now owns 1,936,666 shares of the company's stock valued at $41,580,000 after purchasing an additional 124,558 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of ZIM Integrated Shipping Services by 10.8% in the second quarter. Allianz Asset Management GmbH now owns 1,546,383 shares of the company's stock valued at $24,881,000 after purchasing an additional 150,841 shares in the last quarter. Finally, Yelin Lapidot Holdings Management Ltd. lifted its holdings in shares of ZIM Integrated Shipping Services by 8.6% in the first quarter. Yelin Lapidot Holdings Management Ltd. now owns 1,355,363 shares of the company's stock valued at $19,775,000 after purchasing an additional 107,400 shares in the last quarter. 21.42% of the stock is currently owned by institutional investors.

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.

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