Brokerages expect that Iron Mountain (NYSE:IRM) will post $1.03 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Iron Mountain’s earnings, with estimates ranging from $1.02 billion to $1.04 billion. Iron Mountain reported sales of $938.88 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.7%. The company is expected to announce its next earnings report before the market opens on Thursday, April 26th.
According to Zacks, analysts expect that Iron Mountain will report full-year sales of $4.20 billion for the current financial year, with estimates ranging from $4.17 billion to $4.22 billion. For the next year, analysts forecast that the company will post sales of $4.35 billion per share, with estimates ranging from $4.24 billion to $4.42 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Iron Mountain.
Iron Mountain (NYSE:IRM) last issued its earnings results on Friday, February 16th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.04). The firm had revenue of $991.00 million during the quarter, compared to the consensus estimate of $964.15 million. Iron Mountain had a return on equity of 15.40% and a net margin of 4.78%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 EPS.
Several research analysts have recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Iron Mountain from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Goldman Sachs assumed coverage on shares of Iron Mountain in a research note on Tuesday, March 27th. They issued a “buy” rating and a $41.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Iron Mountain currently has a consensus rating of “Hold” and an average price target of $40.50.
In other news, EVP Theodore Maclean sold 1,076 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.30, for a total transaction of $34,754.80. Following the completion of the transaction, the executive vice president now directly owns 6,367 shares of the company’s stock, valued at $205,654.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William L. Meaney sold 24,137 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.08, for a total transaction of $774,314.96. Following the transaction, the insider now directly owns 93,587 shares of the company’s stock, valued at $3,002,270.96. The disclosure for this sale can be found here. Insiders have sold 27,281 shares of company stock valued at $877,892 over the last three months. 1.50% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its holdings in shares of Iron Mountain by 29.2% during the third quarter. Wells Fargo & Company MN now owns 417,024 shares of the financial services provider’s stock valued at $16,222,000 after purchasing an additional 94,201 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Iron Mountain by 0.5% during the third quarter. Parametric Portfolio Associates LLC now owns 528,690 shares of the financial services provider’s stock valued at $20,566,000 after purchasing an additional 2,780 shares during the last quarter. Woodstock Corp increased its holdings in Iron Mountain by 48.7% during the fourth quarter. Woodstock Corp now owns 25,148 shares of the financial services provider’s stock valued at $949,000 after buying an additional 8,236 shares during the last quarter. IFP Advisors Inc increased its holdings in Iron Mountain by 210.7% during the fourth quarter. IFP Advisors Inc now owns 20,509 shares of the financial services provider’s stock valued at $774,000 after buying an additional 13,909 shares during the last quarter. Finally, Accident Compensation Corp purchased a new stake in Iron Mountain during the fourth quarter valued at approximately $226,000. 89.30% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE IRM traded up $0.10 during midday trading on Friday, hitting $33.44. The stock had a trading volume of 1,173,507 shares, compared to its average volume of 1,947,019. The company has a market cap of $9,512.29, a PE ratio of 15.70 and a beta of 0.81. Iron Mountain has a 52 week low of $30.78 and a 52 week high of $41.53. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.47 and a current ratio of 1.47.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th were issued a dividend of $0.5875 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $2.35 annualized dividend and a dividend yield of 7.03%. Iron Mountain’s payout ratio is 110.33%.
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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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