ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Plans Dividend Increase – $3.17 Per Share

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) declared a quarterly dividend on Thursday, March 13th, Wall Street Journal reports. Investors 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 annualized dividend and a 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% annually 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. 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 Price Performance

ZIM stock traded down $1.38 during trading on Thursday, hitting $18.01. 10,119,955 shares of the stock traded hands, compared to its average volume of 5,861,979. ZIM Integrated Shipping Services has a one year low of $9.08 and a one year high of $30.15. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 1.51, a P/E/G ratio of 0.27 and a beta of 1.70. The company has a 50 day simple moving average of $19.29 and a 200 day simple moving average of $20.61. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11.

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

Wall Street Analysts Forecast Growth

ZIM has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating for the company in a research report on Friday, March 7th. Jefferies Financial Group reiterated a “hold” rating and set a $18.00 price target on shares of ZIM Integrated Shipping Services in a research report on Wednesday. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research 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 research report on Thursday, November 21st. Finally, Barclays lowered their price target on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. 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. Based on data from MarketBeat, ZIM Integrated Shipping Services currently has an average rating of “Hold” and a consensus price target 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.