ZIM Integrated Shipping Services Ltd. (ZIM) To Go Ex-Dividend on March 24th

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) announced a quarterly dividend on Wednesday, March 12th, Wall Street Journal reports. Investors of record on Monday, March 24th will be given a dividend of 3.17 per share on Thursday, April 3rd. This represents a $12.68 annualized dividend and a yield of 71.16%. The ex-dividend date of this dividend 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 increased its dividend by an average of 16.7% annually over the last three years. ZIM Integrated Shipping Services has a payout ratio of -925.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 $12.68 annual dividend with an expected future payout ratio of 424.1%.

ZIM Integrated Shipping Services Stock Down 0.8 %

ZIM stock opened at $17.82 on Friday. ZIM Integrated Shipping Services has a 12 month low of $9.47 and a 12 month high of $30.15. The firm has a 50 day simple moving average of $18.86 and a 200 day simple moving average of $20.56. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.26. The firm has a market cap of $2.15 billion, a PE ratio of 1.49, a P/E/G ratio of 0.27 and a beta of 1.70.

ZIM Integrated Shipping Services (NYSE:ZIM) last released 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. 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 analyst estimates of $1.99 billion. Equities research analysts forecast that ZIM Integrated Shipping Services will post 16.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZIM. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Barclays lowered their price objective on shares of ZIM Integrated Shipping Services from $16.00 to $13.50 and set an “underweight” rating for the company in a research report on Monday, March 17th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $18.00 target price on shares of ZIM Integrated Shipping Services in a research note on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of ZIM Integrated Shipping Services from $10.00 to $9.50 and set an “underweight” rating on the stock in a research note on Friday, March 7th. Five research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.54.

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.