ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Receives $15.22 Consensus PT from Brokerages

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) has received a consensus recommendation of “Reduce” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $15.74.

Several equities analysts have recently commented on ZIM shares. Bank of America upped their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Jefferies Financial Group reissued a “hold” rating and issued a $25.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday, November 20th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Barclays increased their price objective on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the stock an “underweight” rating in a report on Monday. Finally, Fearnley Fonds downgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 21st.

ZIM Integrated Shipping Services Stock Up 4.8 %

Shares of ZIM Integrated Shipping Services stock opened at $22.11 on Friday. The firm has a market cap of $2.66 billion, a P/E ratio of 1.85, a P/E/G ratio of 0.05 and a beta of 1.88. The business has a 50-day moving average price of $22.94 and a 200 day moving average price of $20.64. ZIM Integrated Shipping Services has a fifty-two week low of $6.39 and a fifty-two week high of $30.15. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be given a dividend of $2.81 per share. This represents a $11.24 dividend on an annualized basis and a dividend yield of 50.85%. The ex-dividend date is Monday, December 2nd. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s dividend payout ratio is 9.72%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its holdings in shares of ZIM Integrated Shipping Services by 1,431.1% in the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock valued at $61,000 after purchasing an additional 5,667 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in ZIM Integrated Shipping Services by 81.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 89,560 shares of the company’s stock worth $956,000 after buying an additional 40,326 shares during the last quarter. Axxcess Wealth Management LLC acquired a new position in ZIM Integrated Shipping Services during the first quarter worth $546,000. California State Teachers Retirement System increased its stake in shares of ZIM Integrated Shipping Services by 2.4% in the first quarter. California State Teachers Retirement System now owns 104,767 shares of the company’s stock worth $1,060,000 after purchasing an additional 2,423 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of ZIM Integrated Shipping Services by 18.4% in the first quarter. Tidal Investments LLC now owns 55,779 shares of the company’s stock worth $564,000 after purchasing an additional 8,665 shares during the period. Institutional investors and hedge funds own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Company Profile

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.