ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) to Issue $0.74 Dividend

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) announced a dividend on Saturday, May 31st, investing.com reports. Stockholders of record on Tuesday, June 3rd will be given a dividend of 0.74 per share on Monday, June 9th. This represents a dividend yield of 16.96%. The ex-dividend date of this dividend is Monday, June 2nd.

ZIM Integrated Shipping Services has raised its dividend by an average of 16.7% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. ZIM Integrated Shipping Services has a payout ratio of -663.9% 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 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 $12.68 annual dividend with an expected future payout ratio of 424.1%.

ZIM Integrated Shipping Services Stock Up 0.6%

Shares of ZIM traded up $0.10 during trading hours on Wednesday, reaching $16.86. The company's stock had a trading volume of 2,830,051 shares, compared to its average volume of 6,133,292. The company has a 50 day moving average of $15.23 and a two-hundred day moving average of $18.18. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 1.41, a P/E/G ratio of 0.27 and a beta of 1.84. ZIM Integrated Shipping Services has a 1-year low of $11.04 and a 1-year high of $30.15. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 1.11.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its quarterly earnings results on Monday, May 19th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $1.89 by $0.56. The business had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.84 billion. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. During the same quarter in the previous year, the business posted $0.75 EPS. As a group, research analysts predict 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 a number of analyst reports. Bank of America reduced their price target on ZIM Integrated Shipping Services from $16.00 to $12.80 and set an "underperform" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. reduced their target price on 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. Clarkson Capital cut ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 target price for the company. in a research report on Tuesday, May 20th. Jefferies Financial Group lifted their price target on shares of ZIM Integrated Shipping Services from $16.00 to $17.00 and gave the company a "hold" rating in a research report on Tuesday, May 20th. Finally, Barclays upped their price objective on shares of ZIM Integrated Shipping Services from $12.00 to $14.20 and gave the stock an "underweight" rating in a report on Wednesday, May 28th. Five analysts have rated the stock with a sell rating and two have assigned a hold rating to the company's stock. Based on data from MarketBeat, ZIM Integrated Shipping Services currently has a consensus rating of "Reduce" and a consensus target price of $14.42.

Institutional Trading of ZIM Integrated Shipping Services

Several hedge funds and other institutional investors have recently bought and sold shares of ZIM. NewEdge Advisors LLC bought a new stake in shares of ZIM Integrated Shipping Services in the first quarter valued at about $210,000. Royal Bank of Canada raised its holdings in ZIM Integrated Shipping Services by 8.2% in the 1st quarter. Royal Bank of Canada now owns 40,827 shares of the company's stock valued at $596,000 after acquiring an additional 3,102 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of ZIM Integrated Shipping Services by 20.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company's stock worth $68,879,000 after acquiring an additional 788,514 shares during the period. 21.42% of the stock is currently owned by institutional investors and hedge funds.

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.