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

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

Several other equities research analysts have also recently weighed in on the company. Jefferies Financial Group cut ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. reissued 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. Finally, Bank of America boosted their price objective on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $15.22.

ZIM Integrated Shipping Services Trading Up 0.7 %

Shares of ZIM stock opened at $22.81 on Wednesday. ZIM Integrated Shipping Services has a 12-month low of $6.39 and a 12-month high of $26.20. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.41. The stock’s 50-day moving average price is $20.52 and its 200-day moving average price is $18.66. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -1.08, a price-to-earnings-growth ratio of 0.05 and a beta of 1.86.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its earnings results on Monday, August 19th. The company reported $3.08 earnings per share (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 firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the firm posted ($1.37) earnings per share. Equities research analysts predict that ZIM Integrated Shipping Services will post 11.22 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 given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 16.31%. 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. ZIM Integrated Shipping Services’s payout ratio is -4.35%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its holdings in shares of ZIM Integrated Shipping Services by 479.9% in the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company’s stock valued at $58,429,000 after purchasing an additional 2,181,000 shares during the period. Marshall Wace LLP boosted its holdings in shares of ZIM Integrated Shipping Services by 638.6% in the second quarter. Marshall Wace LLP now owns 2,397,311 shares of the company’s stock valued at $53,148,000 after purchasing an additional 2,072,715 shares during the period. American Century Companies Inc. boosted its holdings in shares of ZIM Integrated Shipping Services by 7.8% in the second quarter. American Century Companies Inc. now owns 1,759,141 shares of the company’s stock valued at $39,000,000 after purchasing an additional 127,229 shares during the period. Encompass Capital Advisors LLC purchased a new stake in shares of ZIM Integrated Shipping Services in the second quarter valued at approximately $14,383,000. Finally, Millennium Management LLC boosted its holdings in shares of ZIM Integrated Shipping Services by 306.7% in the second quarter. Millennium Management LLC now owns 425,795 shares of the company’s stock valued at $9,440,000 after purchasing an additional 321,100 shares during the period. 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.