Brokerages Set ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Price Target at $17.83

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) has received a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $17.8333.

A number of research analysts recently issued reports on the stock. Fearnley Fonds raised shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Barclays lifted their price objective on shares of ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the company an “underweight” rating in a research note on Monday, March 16th. Citigroup raised shares of ZIM Integrated Shipping Services from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $11.50 to $31.80 in a research note on Thursday, February 19th. Finally, Weiss Ratings cut shares of ZIM Integrated Shipping Services from a “buy (b-)” rating to a “hold (c-)” rating in a research note on Tuesday, March 10th.

ZIM Integrated Shipping Services Price Performance

ZIM stock opened at $25.23 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.14. ZIM Integrated Shipping Services has a 12 month low of $12.33 and a 12 month high of $29.97. The firm has a market cap of $3.04 billion, a P/E ratio of 31.14 and a beta of 1.20. The company’s 50-day moving average price is $26.03 and its two-hundred day moving average price is $23.73.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its earnings results on Thursday, May 21st. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.50). The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.48 billion. ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. On average, analysts anticipate that ZIM Integrated Shipping Services will post -7.24 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Friday, March 20th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 14.0%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, March 20th. ZIM Integrated Shipping Services’s payout ratio is 7.41%.

Insider Transactions at ZIM Integrated Shipping Services

In related news, EVP Saar Dotan sold 20,000 shares of ZIM Integrated Shipping Services stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $24.63, for a total value of $492,600.00. Following the transaction, the executive vice president directly owned 131,667 shares of the company’s stock, valued at $3,242,958.21. This trade represents a 13.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.

Institutional Trading of ZIM Integrated Shipping Services

A number of hedge funds and other institutional investors have recently modified their holdings of ZIM. Hoey Investments Inc. bought a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter worth $25,000. Lodestone Wealth Management LLC bought a new stake in shares of ZIM Integrated Shipping Services during the fourth quarter worth $29,000. Quarry LP bought a new stake in shares of ZIM Integrated Shipping Services during the third quarter worth $34,000. Huntington National Bank grew its stake in shares of ZIM Integrated Shipping Services by 200,000.0% during the fourth quarter. Huntington National Bank now owns 2,001 shares of the company’s stock worth $42,000 after buying an additional 2,000 shares during the last quarter. Finally, Triumph Capital Management bought a new stake in shares of ZIM Integrated Shipping Services during the third quarter worth $44,000. Institutional investors own 21.42% of the company’s stock.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.