Barclays Trims ZIM Integrated Shipping Services (NYSE:ZIM) Target Price to $13.00

Posted by Renee Jackson on May 26th, 2023

ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) had its target price cut by Barclays from $15.00 to $13.00 in a research report sent to investors on Tuesday morning, The Fly reports.

A number of other research firms have also recently weighed in on ZIM. JPMorgan Chase & Co. cut shares of ZIM Integrated Shipping Services from an overweight rating to a neutral rating and cut their price objective for the company from $27.00 to $20.80 in a research report on Friday, April 21st. TheStreet cut shares of ZIM Integrated Shipping Services from a c- rating to a d+ rating in a report on Wednesday, April 26th. Finally, Jefferies Financial Group restated a hold rating and issued a $20.00 price target on shares of ZIM Integrated Shipping Services in a report on Monday, March 13th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $23.96.

ZIM Integrated Shipping Services Price Performance

ZIM Integrated Shipping Services stock opened at $14.17 on Tuesday. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 0.60 and a beta of 2.11. The firm’s fifty day moving average is $19.18 and its 200 day moving average is $20.14. The company has a quick ratio of 1.53, a current ratio of 1.21 and a debt-to-equity ratio of 0.61. ZIM Integrated Shipping Services has a 52-week low of $12.95 and a 52-week high of $70.85.

ZIM Integrated Shipping Services (NYSE:ZIM – Get Rating) last released its quarterly earnings results on Monday, May 22nd. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.32). The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.56 billion. ZIM Integrated Shipping Services had a net margin of 27.90% and a return on equity of 51.73%. During the same period in the previous year, the company earned $14.19 EPS. Sell-side analysts forecast that ZIM Integrated Shipping Services will post -1.44 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Friday, March 24th were issued a $6.40 dividend. This represents a $25.60 annualized dividend and a yield of 180.66%. The ex-dividend date was Tuesday, April 4th. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.95. ZIM Integrated Shipping Services’s dividend payout ratio is 108.15%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several hedge funds and other institutional investors have recently bought and sold shares of ZIM. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of ZIM Integrated Shipping Services during the 1st quarter worth approximately $1,851,000. Bank of New York Mellon Corp acquired a new stake in shares of ZIM Integrated Shipping Services during the 1st quarter worth approximately $13,790,000. American Century Companies Inc. acquired a new stake in shares of ZIM Integrated Shipping Services during the 1st quarter worth approximately $527,000. Cetera Advisor Networks LLC acquired a new stake in shares of ZIM Integrated Shipping Services during the 1st quarter worth approximately $244,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of ZIM Integrated Shipping Services by 1,625.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $502,000 after purchasing an additional 6,500 shares during the period. Institutional investors and hedge funds own 36.74% of the company’s stock.

About ZIM Integrated Shipping Services

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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.