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ZIM Integrated Shipping Services Ltd. (ZIM) is soaring on to strong Q4 earnings with a large dividen

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ZIM’s stock rose sharply on Wednesday, reaching a new high but finishing barely below an add-on purchase mark. Earnings of $14.17 per diluted share were announced by the Israel-based container-freight fleet operator, exceeding FactSet analyst forecasts of $13.19. Revenue increased by more than 150% to $3.47 billion which was above analyst projections of $3.37 billion. Carried volume increased by 7% year over year.

During the year, ZIM signed charter agreements for 36 additional ships, including 28 liquefied natural gas dual-fuel container ships. The ships are expected to arrive at ZIM in 2023 and 2024. According to officials, the ships might eventually account for 40% of all operational capacity.

ZIM forecasts an EBITDA of $7.1 billion to $7.5 billion in 2022, up from $6.6 billion in 2021. In 2021, the corporation will pay a dividend of $17 per share. The dividend will be paid out on April 4 to shareholders of record as of March 23. On the stock market today, shares rose 6.3% to $75.14, after hitting a new high of $77.45 shortly after the market opened. After breaking out of a cup-with-handle base with a $57.07 entry point, ZIM’s stock is now in a profit-taking zone.

In a three-week-tight pattern, the stock temporarily cleared a $75.30 entry. This is a follow-on chart structure, which means current shareholders can add to their shares here. It is not the place for buyers to take on additional positions. In January 2021, ZIM’s stock was listed on the New York Stock Exchange for the first time. Since its inception, ZIM has continuously risen as supply chain difficulties became more prominent in the wake of the Covid-19 outbreak and a significant change in consumer expenditure.

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