ZIM Integrated Shipping Services Sees Unusually Large Options Volume (NYSE:ZIM)

by · The Cerbat Gem

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Free Report) saw unusually large options trading on Wednesday. Stock investors bought 20,227 call options on the company. This represents an increase of approximately 16% compared to the average volume of 17,510 call options.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

A number of institutional investors and hedge funds have recently modified their holdings of the business. Legacy Investment Solutions LLC bought a new stake in shares of ZIM Integrated Shipping Services in the 2nd quarter valued at $26,000. Quarry LP bought a new stake in ZIM Integrated Shipping Services in the third quarter valued at $34,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of ZIM Integrated Shipping Services during the second quarter valued at about $37,000. Larson Financial Group LLC raised its holdings in shares of ZIM Integrated Shipping Services by 158.8% during the third quarter. Larson Financial Group LLC now owns 3,256 shares of the company’s stock valued at $44,000 after purchasing an additional 1,998 shares during the period. Finally, Triumph Capital Management bought a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter worth about $44,000. 21.42% of the stock is currently owned by institutional investors.

ZIM Integrated Shipping Services Trading Up 0.7%

Shares of NYSE ZIM traded up $0.14 during midday trading on Wednesday, reaching $19.65. The stock had a trading volume of 5,388,583 shares, compared to its average volume of 5,813,774. The company’s 50 day moving average price is $14.67 and its 200 day moving average price is $15.59. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.22 and a current ratio of 1.30. ZIM Integrated Shipping Services has a twelve month low of $11.03 and a twelve month high of $23.61. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 2.36 and a beta of 1.73.

ZIM Integrated Shipping Services (NYSE:ZIM – Get Free Report) last announced 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). ZIM Integrated Shipping Services had a return on equity of 25.18% and a net margin of 13.22%.The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. As a group, sell-side analysts expect that ZIM Integrated Shipping Services will post 16.75 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, December 1st will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 6.3%. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, December 1st. ZIM Integrated Shipping Services’s payout ratio is presently 2.88%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ZIM shares. JPMorgan Chase & Co. cut their price objective on shares of ZIM Integrated Shipping Services from $10.00 to $9.70 and set an “underweight” rating for the company in a research report on Monday. Wall Street Zen downgraded ZIM Integrated Shipping Services from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Barclays decreased their price target on shares of ZIM Integrated Shipping Services from $14.80 to $13.30 and set an “underweight” rating on the stock in a report on Thursday, August 28th. Jefferies Financial Group reissued a “hold” rating and set a $15.00 price target on shares of ZIM Integrated Shipping Services in a research note on Thursday, November 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ZIM Integrated Shipping Services in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Strong Sell” and an average price target of $13.42.

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About ZIM Integrated Shipping Services

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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.

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