ZIM Integrated Shipping Services (NYSE:ZIM) Hits New 1-Year High – Should You Buy?

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $27.14 and last traded at $26.61, with a volume of 1556668 shares traded. The stock had previously closed at $25.01.

Analyst Ratings Changes

Several brokerages have weighed in on ZIM. Bank of America upped their price objective on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Jefferies Financial Group lowered ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a report on Wednesday, October 2nd. Barclays lifted their price objective on shares of ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reissued 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. Four research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $15.22.

ZIM Integrated Shipping Services Stock Performance

The stock’s 50 day simple moving average is $21.97 and its 200 day simple moving average is $20.04. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.97.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Monday, August 19th. The company reported $3.08 EPS for the quarter, topping 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 the consensus estimate of $1.71 billion. During the same period last year, the business posted ($1.37) EPS. On average, equities analysts forecast that ZIM Integrated Shipping Services Ltd. will post 12.11 EPS for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 29th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 14.25%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, August 29th. ZIM Integrated Shipping Services’s dividend payout ratio is presently -1.41%.

Institutional Investors Weigh In On ZIM Integrated Shipping Services

Several hedge funds have recently modified their holdings of ZIM. Public Employees Retirement System of Ohio purchased a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at $3,364,000. Y Intercept Hong Kong Ltd bought a new position in ZIM Integrated Shipping Services in the third quarter worth about $2,612,000. HighTower Advisors LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the third quarter valued at about $263,000. Mark Sheptoff Financial Planning LLC boosted its holdings in shares of ZIM Integrated Shipping Services by 126.7% in the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 3,400 shares of the company’s stock valued at $87,000 after buying an additional 1,900 shares in the last quarter. Finally, PDT Partners LLC grew its position in shares of ZIM Integrated Shipping Services by 48.7% in the 3rd quarter. PDT Partners LLC now owns 255,292 shares of the company’s stock worth $6,551,000 after buying an additional 83,625 shares during the last quarter. Hedge funds and other 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.