Ingram Micro Holding Corp. to Issue Quarterly Dividend of $0.07 (NYSE:INGM)

Ingram Micro Holding Corp. (NYSE:INGM - Get Free Report) declared a quarterly dividend on Tuesday, March 4th, RTT News reports. Stockholders of record on Tuesday, March 11th will be given a dividend of 0.074 per share on Tuesday, March 25th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Tuesday, March 11th.

Ingram Micro Price Performance

NYSE INGM traded up $0.13 during trading hours on Friday, hitting $19.59. The company's stock had a trading volume of 494,395 shares, compared to its average volume of 419,111. Ingram Micro has a 52 week low of $18.90 and a 52 week high of $25.69. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40. The company's 50-day moving average price is $21.96.

Ingram Micro (NYSE:INGM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.01. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. As a group, research analysts anticipate that Ingram Micro will post 2.71 earnings per share for the current fiscal year.

Remove Ads

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Ingram Micro from $27.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday. Bank of America dropped their target price on shares of Ingram Micro from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday. Loop Capital assumed coverage on shares of Ingram Micro in a research report on Monday, November 18th. They set a "buy" rating and a $30.00 target price on the stock. Northcoast Research assumed coverage on shares of Ingram Micro in a research report on Friday, November 8th. They set a "neutral" rating on the stock. Finally, Stifel Nicolaus assumed coverage on shares of Ingram Micro in a research report on Monday, November 18th. They set a "buy" rating and a $28.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Ingram Micro has a consensus rating of "Moderate Buy" and an average target price of $27.29.

Ingram Micro declared that its Board of Directors has authorized a stock buyback plan on Tuesday, March 4th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 1.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

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.