ZIM Integrated Shipping Services (NYSE:ZIM) Issues Quarterly Earnings Results, Beats Estimates By $0.61 EPS

ZIM Integrated Shipping Services (NYSE:ZIM) posted its quarterly earnings data on Monday. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.61, RTT News reports. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. During the same quarter in the previous year, the company posted $0.75 earnings per share.

ZIM Integrated Shipping Services Price Performance

ZIM stock opened at $18.82 on Monday. The stock has a market cap of $2.27 billion, a PE ratio of 1.58, a P/E/G ratio of 0.27 and a beta of 1.84. The firm has a 50 day simple moving average of $15.14 and a two-hundred day simple moving average of $18.71. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. ZIM Integrated Shipping Services has a one year low of $11.03 and a one year high of $30.15.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were issued a dividend of $3.17 per share. The ex-dividend date of this dividend was Monday, March 24th. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81. This represents a $12.68 annualized dividend and a yield of 67.36%. ZIM Integrated Shipping Services’s dividend payout ratio is 6.51%.

Wall Street Analyst Weigh In

A number of research firms have commented on ZIM. Bank of America decreased their target price on ZIM Integrated Shipping Services from $16.00 to $12.80 and set an “underperform” rating on the stock in a research report on Friday, April 11th. Barclays reduced their price target on shares of ZIM Integrated Shipping Services from $13.50 to $12.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Jefferies Financial Group lifted their price objective on shares of ZIM Integrated Shipping Services from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. decreased their target price on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating on the stock in a report on Friday, March 7th. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.66.

Institutional Trading of ZIM Integrated Shipping Services

Several large investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in ZIM Integrated Shipping Services by 8.2% during the first quarter. Royal Bank of Canada now owns 40,827 shares of the company’s stock valued at $596,000 after acquiring an additional 3,102 shares during the last quarter. NewEdge Advisors LLC bought a new stake in ZIM Integrated Shipping Services in the first quarter worth about $210,000. Finally, Goldman Sachs Group Inc. boosted its position in ZIM Integrated Shipping Services by 20.1% in the 1st 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. 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.