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

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) declared a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Investors 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 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% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 stock opened at $24.26 on Friday. The company’s 50 day moving average is $22.67 and its 200 day moving average is $20.40. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 2.03, a price-to-earnings-growth ratio of 0.04 and a beta of 1.88. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.41. ZIM Integrated Shipping Services has a 1-year low of $6.39 and a 1-year 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, topping 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 firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm earned ($1.37) EPS. Sell-side analysts predict that ZIM Integrated Shipping Services will post 13.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on ZIM. Barclays lifted their price target 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. Bank of America upped their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Jefferies Financial Group reissued a “hold” rating and set a $25.00 price target on shares of ZIM Integrated Shipping Services in a research note on Wednesday. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research note on Tuesday, September 10th. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price 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.