ZIM Integrated Shipping Services (NYSE:ZIM) Hits New 1-Year High After Dividend Announcement

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)’s stock price hit a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $30.00 and last traded at $29.90, with a volume of 3923976 shares changing hands. The stock had previously closed at $26.78.

The newly announced dividend which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be issued a $2.81 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93. This represents a $11.24 annualized dividend and a yield of 46.34%. ZIM Integrated Shipping Services’s dividend payout ratio (DPR) is 9.72%.

Wall Street Analyst Weigh In

ZIM has been the topic of several analyst reports. Bank of America upped their price target on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. 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. Jefferies Financial Group restated a “hold” rating and set a $25.00 target price on shares of ZIM Integrated Shipping Services in a research report on Wednesday. Finally, Barclays raised their price target on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $15.22.

ZIM Integrated Shipping Services Stock Performance

The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04. The company has a market cap of $2.92 billion, a PE ratio of 2.03, a PEG ratio of 0.04 and a beta of 1.88. The business’s 50-day moving average is $22.67 and its 200 day moving average is $20.40.

ZIM Integrated Shipping Services (NYSE:ZIM) last posted its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $1.01. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.71 billion. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. During the same period last year, the company earned ($1.37) EPS. On average, equities research analysts predict that ZIM Integrated Shipping Services Ltd. will post 13.65 EPS for the current fiscal year.

Hedge Funds Weigh In On ZIM Integrated Shipping Services

Several hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in ZIM Integrated Shipping Services by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 38,079 shares of the company’s stock worth $977,000 after buying an additional 591 shares during the period. Janney Montgomery Scott LLC lifted its stake in ZIM Integrated Shipping Services by 2.1% in the third quarter. Janney Montgomery Scott LLC now owns 44,292 shares of the company’s stock worth $1,137,000 after acquiring an additional 915 shares during the period. Fairman Group LLC bought a new stake in ZIM Integrated Shipping Services in the third quarter valued at $26,000. Olympiad Research LP lifted its position in shares of ZIM Integrated Shipping Services by 12.9% in the 3rd quarter. Olympiad Research LP now owns 10,588 shares of the company’s stock worth $272,000 after purchasing an additional 1,212 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of ZIM Integrated Shipping Services during the 3rd quarter valued at about $31,000. 21.42% of the stock is owned by institutional investors.

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.