Market News

Joshua Heacock Showers his Favor on ZIM (NYSE:ZIM) Stock on Twitter

Joshua Heacock, a financial literacy promoter, financial motivator, and personal finance instructor, showered his favor on international shipping company ZIM Integrated Shipping Services (ZIM) on the microblogging site Twitter (TWTR).

Heacock labeled Israel-based ZIM his “exclusive callout over the weekend.” Heacock pointed to ZIM’s second-quarter results, announced last week, during which it declared a $4.75 per share quarterly dividend payout. This represents a 45.5% current dividend yield, significantly higher than most of its peers. The dividend is payable on September 8 for all shareholders of record on August 29, with an ex-dividend date of August 26.

Heacock also notified followers that the last date to receive a dividend on ZIM is the close of the market on August 25. Furthermore, he noted that shareholders can sell their shares any time on or after August 26 and still be eligible to receive the dividend.

ZIM’s results for the second quarter of Fiscal 2022 failed to meet analysts’ expectations. Nonetheless, the stock has gained over 6% since its results were announced, owing to the dividend announcement. The company even reaffirmed its full-year Fiscal 2022 guidance.

ZIM reported diluted earnings of $11.07 per share, up 50% year-over-year, but missed the consensus estimates by a huge margin of $1.58 per share. Similarly, revenues of $3.43 billion jumped 44% compared to the prior year period but missed consensus estimates by $270 million.

Is ZIM stock a Buy?

Currently, on TipRanks, ZIM stock has a Hold consensus rating based on four Holds and one Sell. The average ZIM Integrated Shipping price forecast of $51 implies that shares are almost fully valued at current levels. Meanwhile, the stock has gained nearly 16% so far this year.

On the contrary, TipRanks’ Stock Investors tool shows that investor sentiment is currently Positive on ZIM Integrated Shipping, with 1.2% of portfolios tracked by TipRanks increasing their exposure to ZIM stock over the last seven days.


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