ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Declares 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. Investors of record on Monday, December 2nd will be paid a dividend of 2.81 per share on Monday, December 9th. This represents a $11.24 dividend on an annualized basis and a dividend yield of 46.50%. 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 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 Price Performance

Shares of ZIM Integrated Shipping Services stock traded down $2.84 during mid-day trading on Thursday, reaching $24.17. 13,693,583 shares of the stock were exchanged, compared to its average volume of 6,120,571. 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 cap of $2.91 billion, a price-to-earnings ratio of -1.48, a price-to-earnings-growth ratio of 0.04 and a beta of 1.88. ZIM Integrated Shipping Services has a fifty-two week low of $6.39 and a fifty-two week high of $30.15. The firm has a 50-day simple moving average of $22.55 and a 200 day simple moving average of $20.38.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the business posted ($1.37) earnings per share. On average, sell-side analysts predict that ZIM Integrated Shipping Services will post 13.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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