Equities research analysts expect Iron Mountain Incorporated (NYSE:IRM) to post $0.57 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Iron Mountain’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.59. Iron Mountain reported earnings per share of $0.26 during the same quarter last year, which would suggest a positive year over year growth rate of 119.2%. The business is scheduled to announce its next earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Iron Mountain will report full year earnings of $2.14 per share for the current year, with EPS estimates ranging from $2.11 to $2.16. For the next year, analysts anticipate that the company will report earnings of $2.34 per share, with EPS estimates ranging from $2.24 to $2.45. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Iron Mountain.
Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $966.00 million for the quarter, compared to analysts’ expectations of $960.99 million. Iron Mountain had a net margin of 5.54% and a return on equity of 15.49%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS.
A number of brokerages have weighed in on IRM. Zacks Investment Research lowered Iron Mountain from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Evercore ISI began coverage on Iron Mountain in a report on Wednesday, October 18th. They issued an “outperform” rating and a $46.00 price objective on the stock. Stifel Nicolaus restated a “buy” rating and issued a $40.00 price objective on shares of Iron Mountain in a report on Sunday, September 3rd. BidaskClub lowered Iron Mountain from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Robert W. Baird set a $39.00 price objective on Iron Mountain and gave the company a “hold” rating in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Iron Mountain currently has an average rating of “Buy” and an average price target of $41.20.
Shares of Iron Mountain (NYSE:IRM) traded up $0.33 during mid-day trading on Tuesday, reaching $40.99. The company’s stock had a trading volume of 752,100 shares, compared to its average volume of 1,226,058. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 3.59. The stock has a market cap of $10,853.66, a price-to-earnings ratio of 19.55, a P/E/G ratio of 6.34 and a beta of 1.02. Iron Mountain has a 12 month low of $30.75 and a 12 month high of $41.17.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a dividend of $0.5875 per share. This represents a $2.35 annualized dividend and a dividend yield of 5.73%. The ex-dividend date of this dividend is Thursday, December 14th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.55. Iron Mountain’s payout ratio is currently 275.00%.
In other news, EVP John Tomovcsik sold 21,037 shares of Iron Mountain stock in a transaction on Friday, September 8th. The stock was sold at an average price of $40.02, for a total transaction of $841,900.74. Following the transaction, the executive vice president now owns 62,379 shares in the company, valued at approximately $2,496,407.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Theodore Maclean sold 1,500 shares of Iron Mountain stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $40.60, for a total value of $60,900.00. Following the transaction, the vice president now owns 8,679 shares in the company, valued at approximately $352,367.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,379 shares of company stock worth $1,911,241. Insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Iron Mountain by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 43,398,710 shares of the financial services provider’s stock worth $1,491,180,000 after acquiring an additional 151,039 shares during the period. BlackRock Inc. raised its holdings in shares of Iron Mountain by 5.0% during the 2nd quarter. BlackRock Inc. now owns 18,924,442 shares of the financial services provider’s stock worth $650,244,000 after acquiring an additional 896,751 shares during the period. Parnassus Investments CA raised its holdings in shares of Iron Mountain by 1.0% during the 3rd quarter. Parnassus Investments CA now owns 12,497,627 shares of the financial services provider’s stock worth $486,158,000 after acquiring an additional 122,980 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Iron Mountain by 2.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,610,830 shares of the financial services provider’s stock worth $140,460,000 after acquiring an additional 80,395 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Iron Mountain by 25.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,579,236 shares of the financial services provider’s stock worth $139,231,000 after acquiring an additional 720,270 shares during the period. Institutional investors and hedge funds own 87.58% of the company’s stock.
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Iron Mountain Company Profile
Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.
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