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

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

Ingram Micro Price Performance

INGM stock traded up $0.13 during mid-day trading on Tuesday, reaching $20.87. 644,625 shares of the company traded hands, compared to its average volume of 411,478. Ingram Micro has a fifty-two week low of $18.90 and a fifty-two week high of $25.69. The company has a 50 day simple moving average of $21.98. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40.

Ingram Micro Announces Dividend

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

Analyst Ratings Changes

INGM has been the subject of several recent research reports. Melius Research raised Ingram Micro to a “hold” rating in a research note on Tuesday, November 26th. BNP Paribas assumed coverage on Ingram Micro in a report on Monday, November 18th. They issued a “neutral” rating and a $25.00 price objective for the company. Jefferies Financial Group assumed coverage on Ingram Micro in a research report on Monday, November 18th. They issued a “buy” rating and a $28.00 price target on the stock. Loop Capital started coverage on Ingram Micro in a research report on Monday, November 18th. They set a “buy” rating and a $30.00 price objective for the company. Finally, The Goldman Sachs Group started coverage on Ingram Micro in a report on Monday, November 18th. They issued a “buy” rating and a $33.00 target price on the stock. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.