ZIM Integrated Shipping Services Ltd. (ZIM) to Issue Quarterly Dividend of $2.81 on December 9th

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) announced a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Stockholders 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 dividend yield of 46.34%. The ex-dividend date is Monday, December 2nd. This is a boost 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. 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 opened at $24.26 on Friday. 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 has a market cap of $2.92 billion, a PE ratio of 2.03, 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’s 50-day simple moving average is $22.67 and its 200 day simple moving average is $20.40.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $1.01. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.71 billion. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. During the same period in the prior year, the company posted ($1.37) earnings per share. Research analysts predict that ZIM Integrated Shipping Services will post 13.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 price objective on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Bank of America raised their price target on shares of 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. Barclays lifted 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 report on Wednesday, October 23rd. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $25.00 price target on shares of ZIM Integrated Shipping Services in a research note on Wednesday. Four research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to MarketBeat, ZIM Integrated Shipping Services has a consensus 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.