Zacks: Brokerages Anticipate Iron Mountain Incorporated (Delaware) REIT (IRM) Will Announce Earnings of $0.57 Per Share

Equities research analysts expect Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) to report earnings of $0.57 per share for the current quarter, Zacks reports. Five analysts have provided estimates for Iron Mountain Incorporated (Delaware) REIT’s earnings, with the highest EPS estimate coming in at $0.59 and the lowest estimate coming in at $0.53. Iron Mountain Incorporated (Delaware) REIT posted 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 company is scheduled to issue its next quarterly earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Iron Mountain Incorporated (Delaware) REIT will report full year earnings of $2.14 per share for the current financial year, with EPS estimates ranging from $2.11 to $2.16. For the next year, analysts anticipate that the firm will report earnings of $2.34 per share, with EPS estimates ranging from $2.24 to $2.45. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Iron Mountain Incorporated (Delaware) REIT.

Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Iron Mountain Incorporated (Delaware) REIT had a net margin of 5.54% and a return on equity of 15.49%. The business had revenue of $966.00 million during the quarter, compared to the consensus estimate of $960.99 million. During the same quarter last year, the company posted $0.44 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year.

A number of research firms recently issued reports on IRM. ValuEngine downgraded shares of Iron Mountain Incorporated (Delaware) REIT from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. TheStreet downgraded shares of Iron Mountain Incorporated (Delaware) REIT from a “b” rating to a “c+” rating in a report on Thursday, December 7th. Zacks Investment Research upgraded shares of Iron Mountain Incorporated (Delaware) REIT from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Robert W. Baird raised their price objective on shares of Iron Mountain Incorporated (Delaware) REIT from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Finally, Stifel Nicolaus restated a “buy” rating and set a $43.00 price objective (up previously from $40.00) on shares of Iron Mountain Incorporated (Delaware) REIT in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $41.20.

Iron Mountain Incorporated (IRM) traded down $0.77 during midday trading on Wednesday, reaching $37.18. 2,254,397 shares of the company were exchanged, compared to its average volume of 1,323,534. Iron Mountain Incorporated has a 1-year low of $31.90 and a 1-year high of $41.53. The company has a debt-to-equity ratio of 3.59, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $10,680.00, a P/E ratio of 18.24, a PEG ratio of 5.92 and a beta of 1.00.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be given a dividend of $0.5875 per share. This represents a $2.35 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date is Thursday, December 14th. This is a positive change from Iron Mountain Incorporated (Delaware) REIT’s previous quarterly dividend of $0.55. Iron Mountain Incorporated (Delaware) REIT’s dividend payout ratio (DPR) is currently 290.12%.

In other Iron Mountain Incorporated (Delaware) REIT news, EVP Theodore Maclean sold 1,500 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $38.13, for a total transaction of $57,195.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Patrick J. Keddy sold 23,428 shares of the stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $39.04, for a total transaction of $914,629.12. The disclosure for this sale can be found here. Insiders have sold 32,216 shares of company stock valued at $1,268,850 in the last quarter. Company insiders own 1.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in IRM. BlackRock Inc. boosted its position in shares of Iron Mountain Incorporated (Delaware) REIT by 5.0% in the second quarter. BlackRock Inc. now owns 18,924,442 shares of the financial services provider’s stock valued at $650,244,000 after acquiring an additional 896,751 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Iron Mountain Incorporated (Delaware) REIT by 25.2% in the third quarter. Bank of New York Mellon Corp now owns 3,579,236 shares of the financial services provider’s stock valued at $139,231,000 after acquiring an additional 720,270 shares during the period. Pictet Asset Management Ltd. raised its stake in Iron Mountain Incorporated (Delaware) REIT by 89.2% in the third quarter. Pictet Asset Management Ltd. now owns 1,462,729 shares of the financial services provider’s stock valued at $56,900,000 after purchasing an additional 689,800 shares in the last quarter. Athos Capital Ltd raised its stake in Iron Mountain Incorporated (Delaware) REIT by 7,231.4% in the third quarter. Athos Capital Ltd now owns 675,958 shares of the financial services provider’s stock valued at $9,112,000 after purchasing an additional 666,738 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Iron Mountain Incorporated (Delaware) REIT by 40.0% in the third quarter. JPMorgan Chase & Co. now owns 2,282,533 shares of the financial services provider’s stock valued at $88,518,000 after purchasing an additional 652,239 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

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Iron Mountain Incorporated (Delaware) REIT 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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Earnings History and Estimates for Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM)

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