Ingram Micro (NYSE:INGM) Issues Earnings Results

Key Points

• Ingram Micro reported quarterly earnings of $0.61 per share, surpassing analysts' expectations of $0.60 by $0.01, with revenue reaching $12.79 billion compared to estimates of $11.99 billion.
• The company announced a quarterly dividend increase to $0.078 per share, yielding 1.7%, up from the previous dividend of $0.08.
• Despite recent ratings changes from various analysts, Ingram Micro holds a consensus rating of "Moderate Buy" with an average price target of $25.79.

Ingram Micro (NYSE:INGM - Get Free Report) posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.01, Zacks reports. Ingram Micro had a net margin of 0.53% and a return on equity of 17.33%. The company had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $11.99 billion.

Ingram Micro Stock Up 2.3%

INGM stock traded up $0.44 during midday trading on Wednesday, reaching $19.54. 28,417 shares of the company's stock traded hands, compared to its average volume of 385,451. The company has a quick ratio of 0.93, a current ratio of 1.39 and a debt-to-equity ratio of 0.75. The company has a market cap of $4.59 billion and a price-to-earnings ratio of 16.82. The firm's fifty day moving average price is $20.19 and its 200-day moving average price is $19.86. Ingram Micro has a 52 week low of $14.25 and a 52 week high of $25.69.

Ingram Micro Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be paid a dividend of $0.078 per share. This is a boost from Ingram Micro's previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, August 19th. This represents a $0.31 dividend on an annualized basis and a yield of 1.6%. Ingram Micro's dividend payout ratio (DPR) is presently 25.86%.

Hedge Funds Weigh In On Ingram Micro

A number of hedge funds have recently bought and sold shares of INGM. Geode Capital Management LLC boosted its holdings in Ingram Micro by 11.8% during the 2nd quarter. Geode Capital Management LLC now owns 103,184 shares of the company's stock worth $2,150,000 after acquiring an additional 10,878 shares during the last quarter. Rhumbline Advisers boosted its holdings in Ingram Micro by 6.3% during the 2nd quarter. Rhumbline Advisers now owns 13,646 shares of the company's stock worth $284,000 after acquiring an additional 803 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in Ingram Micro during the 2nd quarter worth $755,000.

Analyst Upgrades and Downgrades

INGM has been the topic of several recent research reports. Morgan Stanley downgraded shares of Ingram Micro from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $23.00 to $22.00 in a research report on Wednesday, June 11th. Raymond James Financial dropped their price target on shares of Ingram Micro from $26.00 to $24.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. The Goldman Sachs Group dropped their price target on shares of Ingram Micro from $29.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Wall Street Zen lowered shares of Ingram Micro from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ingram Micro from $21.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Ingram Micro has an average rating of "Moderate Buy" and a consensus target price of $25.79.

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.