Ingram Micro Holding Corp. (INGM) To Go Ex-Dividend on March 11th

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

Ingram Micro Stock Up 0.7 %

Shares of NYSE INGM opened at $19.59 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. The business’s fifty day moving average is $21.96. Ingram Micro has a 1-year low of $18.90 and a 1-year high of $25.69.

Ingram Micro (NYSE:INGM) last released its earnings results on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $13.21 billion. As a group, sell-side analysts expect that Ingram Micro will post 2.71 EPS for the current fiscal year.

Ingram Micro announced that its board has approved a share repurchase plan on Tuesday, March 4th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to buy up to 1.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on INGM. Evercore ISI cut their price target on Ingram Micro from $27.00 to $26.00 and set an “in-line” rating for the company in a research note on Wednesday. Stifel Nicolaus began coverage on Ingram Micro in a research note on Monday, November 18th. They set a “buy” rating and a $28.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on Ingram Micro in a research note on Monday, November 18th. They set a “buy” rating and a $26.00 price target for the company. The Goldman Sachs Group cut their price target on Ingram Micro from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Raymond James cut their price target on Ingram Micro from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.29.

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.