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

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

Ingram Micro Stock Performance

Ingram Micro stock traded up $0.13 during trading hours on Tuesday, reaching $20.87. 644,625 shares of the company’s stock traded hands, compared to its average volume of 411,486. Ingram Micro has a fifty-two week low of $18.90 and a fifty-two week high of $25.69. The business’s 50 day moving average price is $21.98. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93.

Ingram Micro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.074 per share. This represents a $0.30 annualized dividend and a yield of 1.42%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Ingram Micro from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $25.00 to $27.00 in a report on Thursday, January 16th. Melius Research raised shares of Ingram Micro to a “hold” rating in a report on Tuesday, November 26th. BNP Paribas began coverage on shares of Ingram Micro in a research note on Monday, November 18th. They issued a “neutral” rating and a $25.00 target price on the stock. Melius initiated coverage on shares of Ingram Micro in a research note on Tuesday, November 26th. They set a “hold” rating and a $26.00 price target for the company. Finally, The Goldman Sachs Group initiated coverage on Ingram Micro in a report on Monday, November 18th. They issued a “buy” rating and a $33.00 target price for the company. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ingram Micro presently has an average rating of “Moderate Buy” and an average price target of $28.14.

Ingram Micro Company Profile

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.