Ingram Micro (NYSE:INGM) Releases Earnings Results, Beats Expectations By $0.03 EPS

Ingram Micro (NYSE:INGM) posted its quarterly earnings data on Tuesday. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03, Zacks reports.

Ingram Micro Price Performance

NYSE:INGM traded up $0.13 during trading hours on Tuesday, reaching $20.87. The company’s stock had a trading volume of 644,625 shares, compared to its average volume of 411,478. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93. The firm’s 50-day moving average price is $21.98. Ingram Micro has a 1 year low of $18.90 and a 1 year high of $25.69.

Ingram Micro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.42%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on INGM shares. Melius Research raised shares of Ingram Micro to a “hold” rating in a report on Tuesday, November 26th. Bank of America initiated coverage on shares of Ingram Micro in a report on Monday, November 18th. They issued a “buy” rating and a $30.00 price target on the stock. The Goldman Sachs Group assumed coverage on Ingram Micro in a report on Monday, November 18th. They set a “buy” rating and a $33.00 price objective for the company. Jefferies Financial Group started coverage on Ingram Micro in a research note on Monday, November 18th. They issued a “buy” rating and a $28.00 target price on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Ingram Micro in a research note on Wednesday, November 20th. They set a “neutral” rating and a $28.00 price target for the company. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.14.

About Ingram Micro

Ingram Micro is a leading solutions provider by revenue for the global information technology (“IT”) ecosystem helping power the world’s leading technology brands. With our vast infrastructure and focus on client and endpoint solutions (formerly referred to as commercial & consumer, as described elsewhere in this prospectus), advanced solutions offerings and cloud-based solutions, we enable our business partners to scale and operate more efficiently in the markets they serve.