ZIM Integrated Shipping Services (NYSE:ZIM) Shares Gap Up - What's Next?

Key Points

• ZIM Integrated Shipping Services shares opened at $14.89 after closing at $13.63, reflecting a notable price increase of approximately 9.2% before trading at $14.77.
• Analysts have downgraded the stock's ratings, with Barclays lowering its target price to $13.30, and a consensus rating of "Strong Sell" with a price target of $14.58.
• The company reported a significant earnings miss for the last quarter, with earnings of $0.19 per share against an estimate of $1.50, indicating underlying financial challenges.

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $13.63, but opened at $14.89. ZIM Integrated Shipping Services shares last traded at $14.77, with a volume of 2,345,650 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays cut their target price on shares of ZIM Integrated Shipping Services from $14.80 to $13.30 and set an "underweight" rating for the company in a research report on Thursday, August 28th. Jefferies Financial Group reaffirmed a "hold" rating and set a $17.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Wednesday, August 20th. Clarkson Capital lowered shares of ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price objective for the company. in a research report on Tuesday, May 20th. Wall Street Zen lowered shares of ZIM Integrated Shipping Services from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Finally, Citigroup reaffirmed a "sell" rating on shares of ZIM Integrated Shipping Services in a research report on Monday, August 11th. Two analysts have rated the stock with a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Strong Sell" and a consensus price target of $14.58.

ZIM Integrated Shipping Services Trading Up 7.9%

The company has a market cap of $1.77 billion, a price-to-earnings ratio of 0.88, a price-to-earnings-growth ratio of 0.16 and a beta of 1.74. The company's fifty day moving average price is $15.31 and its two-hundred day moving average price is $15.94. The company has a quick ratio of 1.11, a current ratio of 1.20 and a debt-to-equity ratio of 1.20.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 20th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($1.31). The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.84 billion. ZIM Integrated Shipping Services had a return on equity of 50.61% and a net margin of 23.37%. Research analysts expect that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, September 2nd. ZIM Integrated Shipping Services's dividend payout ratio is 1.44%.

Institutional Trading of ZIM Integrated Shipping Services

Hedge funds have recently modified their holdings of the stock. Northern Trust Corp grew its stake in shares of ZIM Integrated Shipping Services by 150.2% during the fourth quarter. Northern Trust Corp now owns 212,148 shares of the company's stock valued at $4,555,000 after purchasing an additional 127,367 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of ZIM Integrated Shipping Services by 13.8% during the first quarter. Janney Montgomery Scott LLC now owns 53,658 shares of the company's stock valued at $783,000 after purchasing an additional 6,519 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of ZIM Integrated Shipping Services by 7.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 97,812 shares of the company's stock valued at $1,427,000 after purchasing an additional 6,873 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of ZIM Integrated Shipping Services during the first quarter valued at approximately $8,112,000. Finally, American Century Companies Inc. grew its stake in shares of ZIM Integrated Shipping Services by 19.1% during the first quarter. American Century Companies Inc. now owns 2,280,289 shares of the company's stock valued at $33,269,000 after purchasing an additional 366,205 shares during the last quarter. 21.42% of the stock is owned by institutional investors.

About ZIM Integrated Shipping Services

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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