ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Receives $13.25 Average Price Target from Brokerages

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) has been given an average recommendation of “Strong Sell” by the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $13.25.

Several equities analysts recently commented on ZIM shares. JPMorgan Chase & Co. reduced their target price on shares of ZIM Integrated Shipping Services from $9.70 to $8.70 and set an “underweight” rating on the stock in a report on Monday, December 1st. Jefferies Financial Group reaffirmed a “hold” rating and set a $15.00 price objective on shares of ZIM Integrated Shipping Services in a research note on Thursday, November 20th. Weiss Ratings reissued a “hold (c)” rating on shares of ZIM Integrated Shipping Services in a research note on Wednesday, October 8th. Wall Street Zen upgraded ZIM Integrated Shipping Services from a “sell” rating to a “hold” rating in a report on Friday, November 28th. Finally, UBS Group set a $9.70 price target on ZIM Integrated Shipping Services in a research note on Monday, November 24th.

ZIM Integrated Shipping Services Stock Performance

NYSE:ZIM opened at $20.03 on Wednesday. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 2.41 and a beta of 1.70. The business has a 50 day moving average of $15.53 and a 200 day moving average of $15.69. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.30 and a quick ratio of 1.22. ZIM Integrated Shipping Services has a 1-year low of $11.03 and a 1-year high of $23.61.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings results on Thursday, November 20th. The company reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.65). The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. ZIM Integrated Shipping Services had a net margin of 13.22% and a return on equity of 25.18%. On average, sell-side analysts predict that ZIM Integrated Shipping Services will post 16.75 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, December 1st will be paid a $0.31 dividend. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.06. This represents a $1.24 annualized dividend and a dividend yield of 6.2%. ZIM Integrated Shipping Services’s payout ratio is presently 2.88%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

A number of large investors have recently added to or reduced their stakes in ZIM. Legacy Investment Solutions LLC bought a new position in shares of ZIM Integrated Shipping Services during the second quarter valued at about $26,000. Quarry LP purchased a new position in ZIM Integrated Shipping Services during the 3rd quarter valued at about $34,000. Edmond DE Rothschild Holding S.A. bought a new position in ZIM Integrated Shipping Services during the 2nd quarter valued at approximately $37,000. Larson Financial Group LLC lifted its holdings in ZIM Integrated Shipping Services by 158.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,256 shares of the company’s stock worth $44,000 after buying an additional 1,998 shares during the period. Finally, Triumph Capital Management bought a new stake in shares of ZIM Integrated Shipping Services in the 3rd quarter worth approximately $44,000. Institutional investors own 21.42% of the company’s stock.

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.