Iron Mountain Inc (IRM) Expected to Post Earnings of $0.53 Per Share

Wall Street brokerages expect that Iron Mountain Inc (NYSE:IRM) will announce $0.53 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Iron Mountain’s earnings. The lowest EPS estimate is $0.50 and the highest is $0.57. Iron Mountain posted earnings per share of $0.49 during the same quarter last year, which suggests a positive year-over-year growth rate of 8.2%. The firm is expected to issue its next quarterly earnings results before the market opens on Thursday, April 25th.

On average, analysts expect that Iron Mountain will report full year earnings of $2.21 per share for the current financial year, with EPS estimates ranging from $2.11 to $2.30. For the next financial year, analysts forecast that the firm will post earnings of $2.33 per share, with EPS estimates ranging from $2.20 to $2.46. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Iron Mountain.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, February 14th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.27). The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. Iron Mountain had a net margin of 8.60% and a return on equity of 19.30%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.29 earnings per share.

IRM has been the subject of several research reports. ValuEngine raised Iron Mountain from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Mitsubishi UFJ Financial Group increased their target price on Iron Mountain to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 20th. Credit Suisse Group restated an “underperform” rating on shares of Iron Mountain in a research report on Tuesday, February 19th. Robert W. Baird set a $34.00 target price on Iron Mountain and gave the stock a “hold” rating in a research report on Friday, February 15th. Finally, Zacks Investment Research downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Thursday, January 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Iron Mountain has a consensus rating of “Hold” and a consensus price target of $36.00.

In related news, CEO William L. Meaney sold 8,621 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $35.28, for a total value of $304,148.88. Following the sale, the chief executive officer now owns 155,007 shares in the company, valued at $5,468,646.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Fidelma Russo sold 7,724 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $34.79, for a total value of $268,717.96. Following the sale, the executive vice president now owns 9,107 shares in the company, valued at approximately $316,832.53. The disclosure for this sale can be found here. Insiders sold 46,885 shares of company stock worth $1,683,266 in the last quarter. 1.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Retirement Systems of Alabama raised its position in Iron Mountain by 1.0% during the first quarter. Retirement Systems of Alabama now owns 146,424 shares of the financial services provider’s stock valued at $5,192,000 after purchasing an additional 1,387 shares in the last quarter. American Asset Management Inc. raised its position in Iron Mountain by 6.5% during the first quarter. American Asset Management Inc. now owns 8,150 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 500 shares in the last quarter. Virtu Financial LLC raised its position in Iron Mountain by 157.4% during the first quarter. Virtu Financial LLC now owns 20,485 shares of the financial services provider’s stock valued at $726,000 after purchasing an additional 12,528 shares in the last quarter. Truvestments Capital LLC purchased a new stake in Iron Mountain during the first quarter valued at about $1,199,000. Finally, Lavaca Capital LLC raised its position in Iron Mountain by 6.4% during the first quarter. Lavaca Capital LLC now owns 51,346 shares of the financial services provider’s stock valued at $1,821,000 after purchasing an additional 3,077 shares in the last quarter. Institutional investors and hedge funds own 89.54% of the company’s stock.

Shares of IRM stock traded down $0.05 during trading on Wednesday, hitting $36.00. The company’s stock had a trading volume of 104,895 shares, compared to its average volume of 1,735,663. The firm has a market cap of $10.29 billion, a PE ratio of 15.66, a P/E/G ratio of 4.57 and a beta of 0.69. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 4.25. Iron Mountain has a 52 week low of $30.22 and a 52 week high of $37.32.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a $0.611 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.79%. Iron Mountain’s dividend payout ratio (DPR) is presently 106.09%.

Iron Mountain Company Profile

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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