Analysts expect that Iron Mountain Inc (NYSE:IRM) will post $0.53 earnings per share (EPS) for the current quarter, Zacks reports. Seven analysts have provided estimates for Iron Mountain’s earnings, with the highest EPS estimate coming in at $0.54 and the lowest estimate coming in at $0.52. Iron Mountain posted earnings of $0.55 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 3.6%. The business is expected to issue its next quarterly earnings results on Tuesday, October 23rd.
On average, analysts expect that Iron Mountain will report full-year earnings of $2.12 per share for the current fiscal year, with EPS estimates ranging from $2.02 to $2.19. For the next fiscal year, analysts forecast that the business will report earnings of $2.29 per share, with EPS estimates ranging from $2.21 to $2.40. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Iron Mountain.
Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Friday, July 27th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Iron Mountain had a return on equity of 14.82% and a net margin of 4.56%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS.
A number of brokerages have issued reports on IRM. Zacks Investment Research downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Barclays assumed coverage on Iron Mountain in a research report on Wednesday, July 18th. They set an “equal weight” rating and a $39.00 price target on the stock. Credit Suisse Group assumed coverage on Iron Mountain in a research report on Friday, August 10th. They set an “underperform” rating and a $25.00 price target on the stock. TheStreet raised Iron Mountain from a “c+” rating to a “b-” rating in a research report on Wednesday, June 20th. Finally, ValuEngine raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $38.57.
NYSE:IRM traded down $0.91 during trading on Monday, reaching $35.36. The company’s stock had a trading volume of 1,748,317 shares, compared to its average volume of 1,158,713. The company has a market capitalization of $10.38 billion, a PE ratio of 16.60 and a beta of 0.62. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.98 and a quick ratio of 0.98. Iron Mountain has a 12 month low of $30.78 and a 12 month high of $41.53.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Stockholders of record on Monday, September 17th will be given a dividend of $0.5875 per share. The ex-dividend date of this dividend is Friday, September 14th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 6.65%. Iron Mountain’s dividend payout ratio is presently 110.33%.
In related news, CFO Stuart B. Brown sold 1,750 shares of the stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $35.38, for a total transaction of $61,915.00. Following the sale, the chief financial officer now owns 7,661 shares of the company’s stock, valued at approximately $271,046.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Walter C. Rakowich sold 1,765 shares of the stock in a transaction dated Tuesday, July 3rd. The stock was sold at an average price of $34.95, for a total value of $61,686.75. Following the sale, the director now directly owns 20,324 shares in the company, valued at approximately $710,323.80. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. CENTRAL TRUST Co lifted its holdings in Iron Mountain by 13.8% during the 2nd quarter. CENTRAL TRUST Co now owns 12,284 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 1,490 shares in the last quarter. Advantus Capital Management Inc lifted its holdings in Iron Mountain by 1.8% during the 1st quarter. Advantus Capital Management Inc now owns 83,465 shares of the financial services provider’s stock worth $2,743,000 after purchasing an additional 1,500 shares in the last quarter. Tredje AP fonden lifted its holdings in Iron Mountain by 12.6% during the 1st quarter. Tredje AP fonden now owns 13,410 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 1,500 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in Iron Mountain by 4.0% during the 2nd quarter. D.A. Davidson & CO. now owns 40,290 shares of the financial services provider’s stock worth $1,411,000 after purchasing an additional 1,534 shares in the last quarter. Finally, Comerica Bank lifted its holdings in Iron Mountain by 1.8% during the 1st quarter. Comerica Bank now owns 88,189 shares of the financial services provider’s stock worth $2,977,000 after purchasing an additional 1,538 shares in the last quarter. 86.00% of the stock is currently owned by institutional investors and hedge funds.
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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