ZIM Integrated Shipping Services (NYSE:ZIM) Trading Up 3.5% Following Analyst Upgrade

Shares of ZIM Integrated Shipping Services Ltd (NYSE: ZIM) rose 3.5% during trading Friday after Jefferies Financial Group raised its share price target from $80.00 to $100.00. Jefferies Financial Group currently has a buy rating on the stock. ZIM Integrated Shipping Services traded as high as $64.78 and was last traded at $63.74. 46,782 shares changed hands during trading, down 99% from the average daily volume of 3,590,120 shares. The stock had earlier closed at $61.57.

A number of other research companies have also influenced ZIM. Zacks Investment Research upgraded ZIM Integrated Shipping Services from a “hold” rating to a “strong buy” rating and set a $66.00 price target for the stock in a research note on Thursday. Barclays boosted its price target on ZIM Integrated Shipping Services from $60.00 to $76.00 and gave the stock an “equal” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and another has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “buy” and an agreed target price of $66.67.

Several institutional investors have recently made changes to their positions in the company. Morgan Stanley secured a new position at ZIM Integrated Shipping Services during the first quarter worth $220,000. Envestnet Asset Management Inc. acquired a new position in shares of ZIM Integrated Shipping Services in the second quarter valued at approximately $481,000. Citigroup Inc. has acquired acquired a new position in shares of ZIM Integrated Shipping Services in the second quarter valued at approximately $317,000. Mackenzie Financial Corp. acquired a new position in stock of ZIM Integrated Shipping Services in the second quarter valued at approximately $638,000. Finally, CIBC World Markets Inc. acquired a new position in shares of ZIM Integrated Shipping Services in the second quarter valued at approximately $371,000. 47.33% of the shares are currently owned by institutional investors and hedge funds.

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The company has a quick ratio of 1.54, a trading ratio of 1.58 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $7.39 billion and a price-earnings ratio of 2.29. The 50-day moving average for business is $56.22 and the 200-day moving average is $50.58.

ZIM Integrated Shipping Services NYSE: ZIM released its quarterly earnings results on Tuesday, November 16th. The company reported earnings of $12.16 per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.20 by $2.96. ZIM Integrated Shipping Services generated a net profit margin of 38.27% and a return on equity of 269.24%. The company’s revenue was $3.14 billion for the quarter, compared to a consensus estimate of $2.67 billion. As a group, sell-side analysts expect ZIM Integrated Shipping Services Ltd. 37.76 earnings per share for the current year.

The company also recently announced an annual dividend, which was paid on Monday, December 27. A dividend of $2.50 was paid to registered investors on Thursday, December 16th. The dividend payout date was Wednesday, December 15th. This represents a return of 18.4%. The dividend payout ratio for ZIM Integrated Shipping Services is currently 35.51%.

About ZIM Integrated Shipping Services (NYSE: ZIM)

ZIM Integrated Shipping Services Ltd. , along with its subsidiaries, provides container shipping and related services in Israel and internationally. The company provides shipping and logistics services that include dry, reefer and project freight services, off-scale, bulk and dangerous goods; inland transportation services; and ZIMonitor, a refrigerated cargo tracking service.

Read more: Profit margin differs from revenue

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