ZIM Integrated Shipping ServicesNYSE: ZIM

Zim shares have enjoyed a strong move higher in 2024, but one analyst believes it is now time to take those gains and move on. Questions about long-term demand could eat into shipping rates in the second half of 2024.

ZIM Integrated Shipping Services announced a dividend for the first quarter due to a recovery in freight rates and volume. The company's profit trajectory is on an upswing, leading to potential sustained recovery and re-rating for investors. ZIM Integrated Shipping's first quarter earnings show a significant increase in gross profit and a return to positive net profits.

HAIFA, Israel , May 28, 2024 /PRNewswire/ -- ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) ("ZIM" or the "Company"), a global container liner shipping company, hereby updates that in connection with the dividend distribution expected to take place on June 11, 2024, as previously announced by the Company on May 21, 2024 (the "Dividend"), it had obtained an extension of its previously obtained tax ruling from the Israeli Tax Authority, or ITA, with respect to the tax withholding procedures relating to the payment of the Dividend to the Company's shareholders (the "Ruling").

The high expenses of running the business may have negatively impacted ZIM Integrated Shipping's performance in the first quarter of 2024.

ZIM Integrated Shipping Services (ZIM) ended the most recent trading day at $19.04, up 0.9% from the day before.

ZIM (ZIM) lacks the necessary factors for a potential earnings surprise in its upcoming report. Be ready for the expected results.

Container shipping company stocks were rising on Monday, in line with a recent streak of strong performance that experts believe will continue in the near future.

ZIM Integrated Shipping's stock has experienced a significant decrease in total return as a result of a reduction in dividends. However, there are encouraging indications for ZIM's future, such as improvements in both volume and rates. I anticipate a profit in 2024 and the possibility of the dividend being reinstated in accordance with its payout policy.

ZIM Integrated Shipping Services (ZIM) ended the most recent trading session at $13.25, showing a 1.38% increase from the previous day.