ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Announces Quarterly Dividend of $0.93

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) announced a quarterly dividend on Monday, August 19th, Wall Street Journal reports. Stockholders of record on Thursday, August 29th will be given a dividend of 0.93 per share on Thursday, September 5th. This represents a $3.72 annualized dividend and a dividend yield of 17.06%. The ex-dividend date is Thursday, August 29th. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23.

ZIM Integrated Shipping Services has a payout ratio of -61.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect ZIM Integrated Shipping Services to earn ($2.03) per share next year, which means the company may not be able to cover its $0.92 annual dividend with an expected future payout ratio of -45.3%.

ZIM Integrated Shipping Services Trading Down 3.2 %

ZIM traded down $0.73 on Wednesday, reaching $21.81. 8,116,047 shares of the company traded hands, compared to its average volume of 6,149,103. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 1.49. The company has a market cap of $2.62 billion, a P/E ratio of -1.03, a price-to-earnings-growth ratio of 0.09 and a beta of 1.85. The firm has a fifty day simple moving average of $19.41 and a two-hundred day simple moving average of $15.66. ZIM Integrated Shipping Services has a one year low of $6.39 and a one year high of $23.82.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $1.01. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.71 billion. ZIM Integrated Shipping Services had a negative return on equity of 14.80% and a negative net margin of 47.59%. During the same quarter in the previous year, the business earned ($1.37) earnings per share. As a group, equities research analysts expect that ZIM Integrated Shipping Services will post 6.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ZIM shares. Citigroup downgraded ZIM Integrated Shipping Services from a “neutral” rating to a “sell” rating and lifted their price objective for the company from $11.60 to $13.00 in a report on Thursday, June 6th. Barclays lifted their price objective on shares of ZIM Integrated Shipping Services from $5.00 to $10.00 and gave the company an “underweight” rating in a report on Tuesday, May 28th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $22.00 price target on shares of ZIM Integrated Shipping Services in a report on Monday. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.41.

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.