Key Points
- ZIM EVP Saar Dotan sold 20,000 shares on June 1 at an average price of $24.63, totaling about $492,600. After the sale, he still held 131,667 shares, a 13.19% reduction in his position.
- ZIM recently reported weaker-than-expected quarterly results, posting EPS of -$0.72 versus analyst expectations of -$0.22 and revenue of $1.40 billion versus $1.48 billion expected.
- The company maintained an unusually high dividend yield, paying a quarterly dividend of $0.88, or $3.52 annualized, for a yield of about 14.0%.
ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) EVP Saar Dotan sold 20,000 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $24.63, for a total value of $492,600.00. Following the completion of the transaction, the executive vice president owned 131,667 shares of the company's stock, valued at $3,242,958.21. This trade represents a 13.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
ZIM Integrated Shipping Services Stock Performance
Shares of ZIM stock opened at $25.23 on Wednesday. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 31.14 and a beta of 1.20. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.19 and a quick ratio of 1.09. The business has a fifty day moving average of $26.03 and a 200 day moving average of $23.73. ZIM Integrated Shipping Services Ltd. has a 1 year low of $12.33 and a 1 year high of $29.97.
ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its earnings results on Thursday, May 21st. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.50). The firm had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.48 billion. ZIM Integrated Shipping Services had a negative return on equity of 0.26% and a net margin of 1.56%. As a group, research analysts expect that ZIM Integrated Shipping Services Ltd. will post -7.24 earnings per share for the current year.
ZIM Integrated Shipping Services Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Friday, March 20th were paid a $0.88 dividend. This is a positive change from ZIM Integrated Shipping Services's previous quarterly dividend of $0.31. The ex-dividend date was Friday, March 20th. This represents a $3.52 dividend on an annualized basis and a yield of 14.0%. ZIM Integrated Shipping Services's dividend payout ratio (DPR) is 7.41%.
Hedge Funds Weigh In On ZIM Integrated Shipping Services
A number of institutional investors have recently modified their holdings of ZIM. Hoey Investments Inc. purchased a new position in shares of ZIM Integrated Shipping Services during the 4th quarter valued at about $25,000. Lodestone Wealth Management LLC purchased a new position in shares of ZIM Integrated Shipping Services in the 4th quarter valued at about $29,000. Quarry LP purchased a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at about $34,000. Huntington National Bank increased its stake in shares of ZIM Integrated Shipping Services by 200,000.0% in the 4th quarter. Huntington National Bank now owns 2,001 shares of the company's stock valued at $42,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Triumph Capital Management purchased a new position in shares of ZIM Integrated Shipping Services in the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 21.42% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on ZIM. Weiss Ratings lowered ZIM Integrated Shipping Services from a "buy (b-)" rating to a "hold (c-)" rating in a research note on Tuesday, March 10th. Fearnley Fonds upgraded ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 18th. Barclays lifted their price objective on ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the company an "underweight" rating in a research note on Monday, March 16th. Finally, Citigroup upgraded ZIM Integrated Shipping Services from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $11.50 to $31.80 in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $17.83.
Check Out Our Latest Stock Report on ZIM
About ZIM Integrated Shipping Services
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
