ZIM Integrated Shipping Services (NYSE:ZIM) Stock Price Up 12.3% – Here’s Why

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price shot up 12.3% on Monday . The stock traded as high as $20.67 and last traded at $20.65. 4,414,530 shares traded hands during trading, a decline of 29% from the average session volume of 6,217,032 shares. The stock had previously closed at $18.39.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ZIM shares. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Fearnley Fonds lowered ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. Barclays lifted their price objective on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the stock an “underweight” rating in a research report on Monday, November 25th. Bank of America upped their target price on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $25.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Wednesday, November 20th. Five research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ZIM Integrated Shipping Services has an average rating of “Hold” and a consensus price target of $15.74.

ZIM Integrated Shipping Services Price Performance

The company’s 50-day moving average is $23.01 and its 200-day moving average is $20.69. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 1.69, a PEG ratio of 0.05 and a beta of 1.78. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be issued a $2.81 dividend. This represents a $11.24 dividend on an annualized basis and a dividend yield of 54.99%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is 9.72%.

Institutional Trading of ZIM Integrated Shipping Services

Several large investors have recently added to or reduced their stakes in ZIM. Fairman Group LLC acquired a new position in shares of ZIM Integrated Shipping Services during the third quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in ZIM Integrated Shipping Services in the third quarter valued at $31,000. Northwestern Mutual Wealth Management Co. grew its holdings in ZIM Integrated Shipping Services by 2,341.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock worth $43,000 after acquiring an additional 1,850 shares in the last quarter. American Capital Advisory LLC bought a new stake in shares of ZIM Integrated Shipping Services in the 3rd quarter worth about $69,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at about $71,000. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.