ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) to Issue $2.85 Quarterly Dividend

ZIM Integrated Shipping Services Ltd. (NYSE:ZIMGet Rating) declared a quarterly dividend on Wednesday, May 18th, Zacks reports. Shareholders of record on Tuesday, May 31st will be paid a dividend of 2.85 per share on Wednesday, June 8th. This represents a $11.40 dividend on an annualized basis and a yield of 18.66%. The ex-dividend date of this dividend is Friday, May 27th.

Shares of ZIM stock opened at $61.08 on Thursday. The stock’s fifty day moving average is $65.80 and its two-hundred day moving average is $62.02. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.80 and a current ratio of 1.84. The firm has a market capitalization of $7.32 billion, a P/E ratio of 1.58 and a beta of 2.42. ZIM Integrated Shipping Services has a fifty-two week low of $33.71 and a fifty-two week high of $91.23.

ZIM Integrated Shipping Services (NYSE:ZIMGet Rating) last announced its quarterly earnings data on Wednesday, March 9th. The company reported $14.17 earnings per share for the quarter, beating analysts’ consensus estimates of $13.65 by $0.52. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.44 billion. ZIM Integrated Shipping Services had a return on equity of 201.14% and a net margin of 43.25%. On average, equities analysts forecast that ZIM Integrated Shipping Services will post 36.8 earnings per share for the current year.

A number of analysts have issued reports on the company. Jefferies Financial Group raised their target price on ZIM Integrated Shipping Services from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, March 10th. Clarkson Capital downgraded ZIM Integrated Shipping Services from a “buy” rating to a “neutral” rating in a research note on Thursday, March 10th. Zacks Investment Research raised ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating and set a $66.00 target price for the company in a research note on Thursday, January 27th. Finally, Barclays raised their target price on ZIM Integrated Shipping Services from $60.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 26th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ZIM Integrated Shipping Services has a consensus rating of “Buy” and a consensus price target of $76.40.

Several large investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in shares of ZIM Integrated Shipping Services by 166.9% during the 1st quarter. Renaissance Technologies LLC now owns 4,062,538 shares of the company’s stock worth $295,387,000 after purchasing an additional 2,540,500 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of ZIM Integrated Shipping Services by 123.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,433,175 shares of the company’s stock worth $249,626,000 after purchasing an additional 1,897,990 shares during the last quarter. BlackRock Inc. increased its position in shares of ZIM Integrated Shipping Services by 5.1% during the 1st quarter. BlackRock Inc. now owns 824,259 shares of the company’s stock worth $59,932,000 after purchasing an additional 40,283 shares during the last quarter. State Street Corp boosted its holdings in ZIM Integrated Shipping Services by 32.8% during the 1st quarter. State Street Corp now owns 296,317 shares of the company’s stock valued at $26,504,000 after acquiring an additional 73,207 shares during the period. Finally, Millennium Management LLC boosted its holdings in ZIM Integrated Shipping Services by 14.8% during the 4th quarter. Millennium Management LLC now owns 253,174 shares of the company’s stock valued at $14,902,000 after acquiring an additional 32,568 shares during the period. 47.33% of the stock is owned by hedge funds and other institutional investors.

About ZIM Integrated Shipping Services (Get Rating)

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.

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