ZIM Integrated Shipping Services (NYSE:ZIM) Upgraded by Fearnley Fonds to “Hold” Rating

Fearnley Fonds upgraded shares of ZIM Integrated Shipping Services (NYSE:ZIM) from a strong sell rating to a hold rating in a report issued on Friday morning,Zacks.com reports.

A number of other analysts also recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on ZIM Integrated Shipping Services from $9.70 to $8.70 and set an “underweight” rating for the company in a report on Monday, December 1st. UBS Group set a $9.70 price target on ZIM Integrated Shipping Services in a research report on Monday, November 24th. Wall Street Zen raised ZIM Integrated Shipping Services from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. Barclays raised their price objective on ZIM Integrated Shipping Services from $13.30 to $13.70 and gave the stock an “underweight” rating in a research report on Friday. Finally, Jefferies Financial Group upped their target price on ZIM Integrated Shipping Services from $15.00 to $20.00 and gave the company a “hold” rating in a report on Monday, December 8th. Four research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $14.15.

ZIM Integrated Shipping Services Stock Down 0.1%

Shares of NYSE ZIM opened at $19.24 on Friday. The company has a 50 day simple moving average of $16.78 and a 200 day simple moving average of $15.86. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.30 and a quick ratio of 1.22. ZIM Integrated Shipping Services has a 1 year low of $11.03 and a 1 year high of $23.61. The firm has a market cap of $2.32 billion, a PE ratio of 2.31 and a beta of 1.70.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Thursday, November 20th. The company reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.65). The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. ZIM Integrated Shipping Services had a return on equity of 25.18% and a net margin of 13.22%. On average, research analysts forecast that ZIM Integrated Shipping Services will post 16.75 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, December 1st were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 6.4%. The ex-dividend date was Monday, December 1st. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.06. ZIM Integrated Shipping Services’s dividend payout ratio is currently 2.88%.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several institutional investors have recently added to or reduced their stakes in the business. GM Advisory Group LLC acquired a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter worth approximately $1,355,000. Triumph Capital Management bought a new position in ZIM Integrated Shipping Services during the third quarter worth $44,000. PharVision Advisers LLC bought a new position in ZIM Integrated Shipping Services during the third quarter worth $203,000. Quarry LP acquired a new stake in ZIM Integrated Shipping Services in the third quarter worth $34,000. Finally, Public Employees Retirement System of Ohio increased its stake in ZIM Integrated Shipping Services by 1.2% in the third quarter. Public Employees Retirement System of Ohio now owns 95,400 shares of the company’s stock valued at $1,293,000 after purchasing an additional 1,100 shares in the last quarter. 21.42% of the stock is owned by institutional investors and hedge funds.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.