Barclays Increases ZIM Integrated Shipping Services (NYSE:ZIM) Price Target to $13.90

ZIM Integrated Shipping Services (NYSE:ZIM) had its price target boosted by Barclays from $12.30 to $13.90 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an underweight rating on the stock.

ZIM has been the subject of several other reports. Jefferies Financial Group lowered shares of ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research report on Wednesday, October 2nd. Bank of America raised their price target on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. Based on data from MarketBeat.com, ZIM Integrated Shipping Services has an average rating of “Reduce” and an average target price of $15.22.

ZIM Integrated Shipping Services Price Performance

Shares of ZIM stock opened at $22.46 on Wednesday. ZIM Integrated Shipping Services has a 12-month low of $6.39 and a 12-month high of $26.20. The business’s fifty day simple moving average is $20.30 and its 200-day simple moving average is $18.52. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.41.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $1.01. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the company posted ($1.37) EPS. As a group, analysts expect that ZIM Integrated Shipping Services will post 11.22 earnings per share for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were given a dividend of $0.93 per share. The ex-dividend date was Thursday, August 29th. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. This represents a $3.72 dividend on an annualized basis and a yield of 16.56%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is currently -5.64%.

Institutional Trading of ZIM Integrated Shipping Services

Several institutional investors and hedge funds have recently bought and sold shares of ZIM. Fairman Group LLC purchased a new position in shares of ZIM Integrated Shipping Services during the third quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ZIM Integrated Shipping Services by 2,341.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after buying an additional 1,850 shares during the period. California State Teachers Retirement System boosted 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 buying an additional 2,423 shares during the last quarter. Finally, nVerses Capital LLC grew its holdings in ZIM Integrated Shipping Services by 50.0% during the third quarter. nVerses Capital LLC now owns 9,600 shares of the company’s stock worth $246,000 after acquiring an additional 3,200 shares during the period. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.