Equities research analysts forecast that Iron Mountain Inc (NYSE:IRM) will report $0.58 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Iron Mountain’s earnings. The highest EPS estimate is $0.62 and the lowest is $0.54. Iron Mountain posted earnings per share of $0.55 during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.5%. The business is expected to announce its next earnings report on Thursday, October 24th.
According to Zacks, analysts expect that Iron Mountain will report full-year earnings of $2.27 per share for the current year, with EPS estimates ranging from $2.15 to $2.40. For the next year, analysts expect that the company will post earnings of $2.39 per share, with EPS estimates ranging from $2.25 to $2.54. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Iron Mountain.
Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Iron Mountain had a return on equity of 19.65% and a net margin of 8.18%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year.
A number of equities research analysts have recently weighed in on IRM shares. Bank of America cut Iron Mountain from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $33.00 to $25.00 in a research note on Thursday, July 11th. Robert W. Baird raised Iron Mountain from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $27.00 to $29.00 in a research note on Friday, August 2nd. TheStreet raised Iron Mountain from a “c+” rating to a “b-” rating in a research note on Monday, September 9th. ValuEngine cut Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Wells Fargo & Co started coverage on Iron Mountain in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $31.60 price objective for the company. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Iron Mountain has a consensus rating of “Hold” and a consensus target price of $33.51.
In related news, EVP Patrick J. Keddy sold 6,000 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $33.00, for a total transaction of $198,000.00. Following the completion of the transaction, the executive vice president now directly owns 24,114 shares of the company’s stock, valued at approximately $795,762. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.90% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRM. Cibc World Markets Corp increased its stake in shares of Iron Mountain by 3,639.5% in the 2nd quarter. Cibc World Markets Corp now owns 1,418,055 shares of the financial services provider’s stock valued at $44,385,000 after acquiring an additional 1,380,134 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Iron Mountain by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 45,733,966 shares of the financial services provider’s stock worth $1,431,474,000 after buying an additional 1,111,513 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Iron Mountain by 34.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,906,191 shares of the financial services provider’s stock worth $120,624,000 after buying an additional 990,959 shares during the period. Natixis lifted its holdings in shares of Iron Mountain by 109.5% in the 2nd quarter. Natixis now owns 1,258,373 shares of the financial services provider’s stock worth $39,387,000 after buying an additional 657,795 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of Iron Mountain by 24.7% in the 2nd quarter. California Public Employees Retirement System now owns 1,982,765 shares of the financial services provider’s stock worth $62,061,000 after buying an additional 392,558 shares during the period. 85.97% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE IRM traded up $0.01 during trading on Tuesday, reaching $32.29. The stock had a trading volume of 51,382 shares, compared to its average volume of 2,002,560. Iron Mountain has a fifty-two week low of $29.28 and a fifty-two week high of $37.32. The company has a debt-to-equity ratio of 6.06, a quick ratio of 0.75 and a current ratio of 0.75. The business’s 50-day moving average price is $31.61 and its 200-day moving average price is $32.59. The company has a market cap of $9.35 billion, a P/E ratio of 14.04, a PEG ratio of 3.78 and a beta of 0.53.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Monday, September 16th will be paid a dividend of $0.611 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.44 annualized dividend and a yield of 7.57%. Iron Mountain’s payout ratio is 106.09%.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.
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