ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Announces Dividend Increase – $2.81 Per Share

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Stockholders of record on Monday, December 2nd will be given a dividend of 2.81 per share on Monday, December 9th. This represents a $11.24 annualized dividend and a dividend yield of 46.50%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93.

ZIM Integrated Shipping Services has a dividend payout ratio of 1,377.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect ZIM Integrated Shipping Services to earn ($0.73) per share next year, which means the company may not be able to cover its $3.72 annual dividend with an expected future payout ratio of -509.6%.

ZIM Integrated Shipping Services Stock Performance

Shares of NYSE:ZIM traded down $2.84 during midday trading on Thursday, reaching $24.17. The company had a trading volume of 13,693,583 shares, compared to its average volume of 6,120,571. The company’s 50 day moving average price is $22.55 and its 200 day moving average price is $20.38. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.41. The stock has a market cap of $2.91 billion, a P/E ratio of -1.48, a P/E/G ratio of 0.04 and a beta of 1.88. ZIM Integrated Shipping Services has a 52-week low of $6.39 and a 52-week high of $30.15.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings results on Monday, August 19th. The company reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $1.01. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the business earned ($1.37) earnings per share. As a group, sell-side analysts anticipate that ZIM Integrated Shipping Services will post 13.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Barclays raised their price objective on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Bank of America raised their price target on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Finally, Jefferies Financial Group restated a “hold” rating and set a $25.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $15.22.

ZIM Integrated Shipping Services Company Profile

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.