ZIM Integrated Shipping Services Ltd. (ZIM) To Go Ex-Dividend on December 2nd

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) announced a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Investors of record on Monday, December 2nd will be paid a dividend of 2.81 per share on Monday, December 9th. This represents a $11.24 dividend on an annualized basis and a dividend yield of 51.02%. The ex-dividend date is Monday, December 2nd. This is a positive change from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93.

ZIM Integrated Shipping Services has a payout ratio of 729.9% 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 analysts expect ZIM Integrated Shipping Services to earn $0.20 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 5,620.0%.

ZIM Integrated Shipping Services Stock Down 0.3 %

Shares of NYSE ZIM opened at $22.03 on Friday. The firm has a 50 day moving average price of $23.01 and a 200 day moving average price of $20.67. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.26 and a current ratio of 1.33. The stock has a market cap of $2.65 billion, a P/E ratio of 1.85, a P/E/G ratio of 0.05 and a beta of 1.88. ZIM Integrated Shipping Services has a 52-week low of $6.78 and a 52-week high of $30.15.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ZIM. Jefferies Financial Group reissued a “hold” rating and issued a $25.00 price target on shares of ZIM Integrated Shipping Services in a report on Wednesday, November 20th. Clarkson Capital raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Barclays raised their price target on ZIM Integrated Shipping Services from $13.90 to $16.50 and gave the stock an “underweight” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 price objective on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Finally, Bank of America increased their target price on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ZIM Integrated Shipping Services has a consensus rating of “Hold” and an average target price of $15.74.

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.