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

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Get Free Report) announced a dividend on Saturday, May 31st, investing.com reports. Investors 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 raised its dividend annually for the last 1 consecutive years. ZIM Integrated Shipping Services has a payout ratio of -663.9% 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 $12.68 annual dividend with an expected future payout ratio of 424.1%.

ZIM Integrated Shipping Services Trading Down 2.7%

Shares of ZIM stock traded down $0.47 on Monday, hitting $16.98. The stock had a trading volume of 5,393,729 shares, compared to its average volume of 6,160,028. 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 capitalization of $2.04 billion, a P/E ratio of 1.42, 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's 50 day moving average price is $15.18 and its 200-day moving average price is $18.26.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its quarterly earnings data on Monday, May 19th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.56. ZIM Integrated Shipping Services had a return on equity of 48.63% and a net margin of 19.26%. The business had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period last year, the firm earned $0.75 earnings per share. Analysts anticipate that ZIM Integrated Shipping Services will post 16.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on ZIM shares. Jefferies Financial Group boosted their target price on shares of ZIM Integrated Shipping Services from $16.00 to $17.00 and gave the stock a "hold" rating in a research note on Tuesday, May 20th. Clarkson Capital downgraded ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price objective on the stock. in a report on Tuesday, May 20th. Barclays increased their price objective on ZIM Integrated Shipping Services from $12.00 to $14.20 and gave the company an "underweight" rating in a report on Wednesday, May 28th. JPMorgan Chase & Co. dropped their price objective on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an "underweight" rating on the stock in a report on Friday, March 7th. Finally, Bank of America reduced their price target on shares of 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. Five research analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. Based on data from MarketBeat.com, ZIM Integrated Shipping Services presently has a consensus rating of "Reduce" and a consensus target price of $14.42.

Institutional Trading of ZIM Integrated Shipping Services

A number of large investors have recently bought and sold shares of ZIM. Goldman Sachs Group Inc. boosted its stake in shares of ZIM Integrated Shipping Services by 20.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company's stock worth $68,879,000 after buying an additional 788,514 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of ZIM Integrated Shipping Services during the first quarter worth about $210,000. Finally, Royal Bank of Canada boosted its stake in shares of ZIM Integrated Shipping Services by 8.2% during the first quarter. Royal Bank of Canada now owns 40,827 shares of the company's stock worth $596,000 after buying an additional 3,102 shares during the period. Institutional investors and hedge funds own 21.42% of the company's stock.

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.