ZIM Integrated Shipping Services (NYSE:ZIM) Reaches New 12-Month High Following Dividend Announcement

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) hit a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $30.00 and last traded at $29.90, with a volume of 3923976 shares changing hands. The stock had previously closed at $26.78.

The newly announced dividend which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be paid a dividend of $2.81 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $11.24 annualized dividend and a yield of 46.34%. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. ZIM Integrated Shipping Services’s payout ratio is presently 9.72%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Barclays lifted their price objective on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Bank of America lifted their target price on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Jefferies Financial Group reiterated a “hold” rating and set a $25.00 price objective on shares of ZIM Integrated Shipping Services in a research report on Wednesday. Finally, JPMorgan Chase & Co. restated 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. Four investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $15.22.

ZIM Integrated Shipping Services Price Performance

The firm has a 50 day moving average price of $22.67 and a 200 day moving average price of $20.40. The stock has a market cap of $2.92 billion, a P/E ratio of 2.03, a P/E/G ratio of 0.04 and a beta of 1.88. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.41.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.07 by $1.01. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. ZIM Integrated Shipping Services had a negative net margin of 32.81% and a positive return on equity of 2.89%. During the same quarter in the previous year, the firm earned ($1.37) earnings per share. On average, analysts forecast that ZIM Integrated Shipping Services Ltd. will post 13.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ZIM. Virtu Financial LLC purchased a new stake in shares of ZIM Integrated Shipping Services during the third quarter worth about $893,000. Sunbelt Securities Inc. bought a new position in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at approximately $71,000. Geode Capital Management LLC lifted its holdings in shares of ZIM Integrated Shipping Services by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 88,086 shares of the company’s stock valued at $2,260,000 after acquiring an additional 2,873 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in ZIM Integrated Shipping Services in the third quarter worth about $3,364,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in ZIM Integrated Shipping Services during the third quarter worth approximately $2,612,000. Institutional investors own 21.42% of the company’s stock.

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.