ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Raises Dividend to $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 given a dividend of 2.81 per share on Monday, December 9th. This represents a $11.24 annualized dividend and a yield of 46.50%. The ex-dividend date of this dividend 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% indicating that 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 ($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 10.5 %

ZIM traded down $2.84 on Thursday, hitting $24.17. 13,693,583 shares of the company were exchanged, compared to its average volume of 6,120,571. ZIM Integrated Shipping Services has a 12 month low of $6.39 and a 12 month high of $30.15. The company has a market cap of $2.91 billion, a PE ratio of -1.48, a PEG ratio of 0.04 and a beta of 1.88. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04. The stock’s fifty day moving average is $22.55 and its 200-day moving average is $20.38.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its earnings results on Monday, August 19th. The company reported $3.08 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $1.71 billion. During the same quarter in the prior year, the business earned ($1.37) earnings per share. Equities research analysts predict that ZIM Integrated Shipping Services will post 13.65 EPS for the current fiscal year.

Analysts Set New Price Targets

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