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

Ingram Micro (NYSE:INGM) posted its earnings results on Tuesday. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03, Zacks reports.

Ingram Micro Trading Up 0.6 %

INGM stock traded up $0.13 during mid-day trading on Tuesday, hitting $20.87. 644,625 shares of the company were exchanged, compared to its average volume of 411,486. Ingram Micro has a 1-year low of $18.90 and a 1-year high of $25.69. The business has a 50 day simple moving average of $21.98. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93.

Ingram Micro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors 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 yield of 1.42%.

Analyst Ratings Changes

Several brokerages have recently weighed in on INGM. Bank of America started coverage on shares of Ingram Micro in a research note on Monday, November 18th. They set a “buy” rating and a $30.00 price target for the company. Jefferies Financial Group began coverage on shares of Ingram Micro in a research report on Monday, November 18th. They issued a “buy” rating and a $28.00 target price for the company. William Blair started coverage on shares of Ingram Micro in a research note on Monday, November 18th. They issued an “outperform” rating on the stock. Raymond James started coverage on shares of Ingram Micro in a research note on Monday, November 18th. They set an “outperform” rating and a $28.00 price objective for the company. Finally, Evercore ISI began coverage on Ingram Micro in a report on Monday, November 18th. They set an “inline” rating and a $27.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus 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.