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

Ingram Micro Holding Corp. (NYSE:INGM) declared a quarterly dividend on Tuesday, March 4th, RTT News reports. Shareholders 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 yield of 1.49%. The ex-dividend date of this dividend is Tuesday, March 11th.

Ingram Micro Price Performance

Shares of INGM stock opened at $19.84 on Thursday. Ingram Micro has a 52 week low of $18.90 and a 52 week high of $25.69. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93. The company has a fifty day simple moving average of $21.97.

Ingram Micro (NYSE:INGM) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 EPS 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 analyst estimates of $13.21 billion. As a group, research analysts forecast that Ingram Micro will post 2.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. BNP Paribas began coverage on Ingram Micro in a research note on Monday, November 18th. They issued a “neutral” rating and a $25.00 price target on the stock. Morgan Stanley reduced their target price on Ingram Micro from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday. Royal Bank of Canada lifted their price target on Ingram Micro from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Raymond James lowered their price target on Ingram Micro from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, William Blair started coverage on Ingram Micro in a research report on Monday, November 18th. They issued an “outperform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Ingram Micro has a consensus rating of “Moderate Buy” and an average target price of $27.29.

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