ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Raises Dividend to $3.17 Per Share

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) announced a quarterly dividend on Thursday, March 13th, Wall Street Journal reports. Stockholders of record on Monday, March 24th will be paid a dividend of 3.17 per share on Thursday, April 3rd. This represents a $12.68 dividend on an annualized basis and a dividend yield of 70.42%. The ex-dividend date is Monday, March 24th. This is a 12.8% increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.81.

ZIM Integrated Shipping Services has raised its dividend by an average of 16.7% per year over the last three years. ZIM Integrated Shipping Services has a dividend payout ratio of -2,081.5% 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 $2.99 per share next year, which means the company may not be able to cover its $11.24 annual dividend with an expected future payout ratio of 375.9%.

ZIM Integrated Shipping Services Stock Down 7.1 %

ZIM traded down $1.38 during trading on Thursday, reaching $18.01. 10,119,955 shares of the stock were exchanged, compared to its average volume of 5,861,979. The stock has a market cap of $2.17 billion, a P/E ratio of 1.51, a price-to-earnings-growth ratio of 0.27 and a beta of 1.70. ZIM Integrated Shipping Services has a twelve month low of $9.08 and a twelve month high of $30.15. The stock’s 50 day moving average price is $19.29 and its two-hundred day moving average price is $20.61. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33.

ZIM Integrated Shipping Services (NYSE:ZIM) last released its quarterly earnings data on Wednesday, March 12th. The company reported $4.66 EPS for the quarter, beating the consensus estimate of $3.47 by $1.19. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.99 billion. Equities analysts expect that ZIM Integrated Shipping Services will post 16.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $18.00 target price on shares of ZIM Integrated Shipping Services in a report on Wednesday. Barclays dropped their target price on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Clarkson Capital raised shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Fearnley Fonds cut shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a report on Friday, March 7th. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.04.

About ZIM Integrated Shipping Services

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.