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

by · The Markets Daily

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Get Free Report) announced a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Shareholders 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 yield of 46.34%. The ex-dividend date is Monday, December 2nd. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93.

ZIM Integrated Shipping Services has a 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. Equities research 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 Down 10.2 %

ZIM Integrated Shipping Services stock traded down $2.76 during midday trading on Thursday, reaching $24.26. The stock had a trading volume of 14,441,544 shares, compared to its average volume of 6,129,637. The company has a fifty day moving average price of $22.55 and a two-hundred day moving average price of $20.38. ZIM Integrated Shipping Services has a 12 month low of $6.39 and a 12 month high of $30.15. 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 company has a market capitalization of $2.92 billion, a P/E ratio of -1.48, a PEG ratio of 0.04 and a beta of 1.88.

ZIM Integrated Shipping Services (NYSE:ZIM – Get Free Report) last issued its earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $1.01. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the firm earned ($1.37) earnings per share. As a group, equities analysts expect that ZIM Integrated Shipping Services will post 13.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on ZIM. Bank of America upped their price objective on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Jefferies Financial Group restated a “hold” rating and issued a $25.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.50 price target on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Finally, Barclays increased their price objective on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $15.22.

View Our Latest Stock Report on ZIM Integrated Shipping Services

About ZIM Integrated Shipping Services

(Get Free Report)

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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