Ingram Micro Holding Corp. (INGM) to Issue Quarterly Dividend of $0.07 on March 25th

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

Ingram Micro Price Performance

Shares of NYSE:INGM opened at $19.84 on Thursday. 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 stock’s 50-day moving average price is $21.97. 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 quarterly earnings data on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.91 by $0.01. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $13.21 billion. On average, equities research analysts anticipate that Ingram Micro will post 2.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on INGM shares. Bank of America cut their price objective on Ingram Micro from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday. Northcoast Research assumed coverage on Ingram Micro in a research report on Friday, November 8th. They issued a “neutral” rating for the company. Stifel Nicolaus assumed coverage on Ingram Micro in a research note on Monday, November 18th. They issued a “buy” rating and a $28.00 price target for the company. Melius Research raised Ingram Micro to a “hold” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. decreased their target price on Ingram Micro from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday. Six 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 presently has a consensus rating of “Moderate Buy” and an average price target of $27.29.

Ingram Micro announced that its Board of Directors has authorized a share buyback program on Tuesday, March 4th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is 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.