Iron Mountain (NYSE:IRM) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Iron Mountain (NYSE:IRM) posted its earnings results on Thursday, October 25th. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01, MarketWatch Earnings reports. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Iron Mountain had a net margin of 5.49% and a return on equity of 14.71%. Iron Mountain updated its FY 2018 guidance to $2.41-2.47 EPS.

NYSE:IRM traded up $0.48 on Friday, reaching $32.77. 1,762,687 shares of the company’s stock were exchanged, compared to its average volume of 2,472,917. The company has a debt-to-equity ratio of 4.18, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $9.20 billion, a PE ratio of 15.38 and a beta of 0.77. Iron Mountain has a 52-week low of $30.22 and a 52-week high of $41.53.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Monday, December 17th will be paid a dividend of $0.611 per share. The ex-dividend date is Friday, December 14th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.59. This represents a $2.44 dividend on an annualized basis and a yield of 7.46%. Iron Mountain’s dividend payout ratio is 110.33%.

Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Monday, October 29th. Berenberg Bank assumed coverage on shares of Iron Mountain in a research note on Thursday, September 20th. They set a “buy” rating and a $52.00 target price on the stock. Barclays assumed coverage on shares of Iron Mountain in a research note on Wednesday, July 18th. They set an “equal weight” rating and a $39.00 target price on the stock. Stifel Nicolaus cut shares of Iron Mountain from a “buy” rating to a “hold” rating and lowered their target price for the stock from $39.00 to $34.00 in a research note on Friday, October 26th. Finally, ValuEngine raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $37.50.

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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 over 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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Earnings History for Iron Mountain (NYSE:IRM)

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