ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Receives Average Rating of “Reduce” from Analysts

Shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) have earned a consensus recommendation of “Reduce” from the seven analysts that are presently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $15.74.

ZIM has been the topic of a number of recent research reports. Jefferies Financial Group reissued a “hold” rating and set a $25.00 target price on shares of ZIM Integrated Shipping Services in a research report on Wednesday, November 20th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $10.50 price objective on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Barclays lifted their price objective on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the company an “underweight” rating in a report on Monday. Finally, Bank of America lifted 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 research note on Wednesday, August 28th.

ZIM Integrated Shipping Services Stock Up 4.8 %

ZIM stock opened at $22.11 on Friday. ZIM Integrated Shipping Services has a twelve month low of $6.39 and a twelve month high of $30.15. The company has a market cap of $2.66 billion, a PE ratio of 1.85, a price-to-earnings-growth ratio of 0.05 and a beta of 1.88. The business’s 50-day simple moving average is $22.94 and its 200 day simple moving average is $20.64. 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 company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be issued a $2.81 dividend. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $11.24 annualized dividend and a dividend yield of 50.85%. ZIM Integrated Shipping Services’s payout ratio is 9.72%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in ZIM Integrated Shipping Services in the 3rd quarter worth $893,000. Sunbelt Securities Inc. acquired a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter worth about $71,000. Geode Capital Management LLC boosted its stake in shares of ZIM Integrated Shipping Services by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 88,086 shares of the company’s stock worth $2,260,000 after buying an additional 2,873 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter worth about $3,364,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter worth about $2,612,000. Institutional investors and hedge funds 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.