Wall Street analysts predict that Iron Mountain Inc (NYSE:IRM) will report earnings per share of $0.53 for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Iron Mountain’s earnings, with the lowest EPS estimate coming in at $0.52 and the highest estimate coming in at $0.53. Iron Mountain posted earnings per share of $0.55 in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.6%. The firm is scheduled to report its next earnings report on Friday, July 27th.
According to Zacks, analysts expect that Iron Mountain will report full year earnings of $2.07 per share for the current financial year, with EPS estimates ranging from $1.91 to $2.15. For the next financial year, analysts expect that the company will post earnings of $2.25 per share, with EPS estimates ranging from $2.16 to $2.33. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Iron Mountain.
Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, April 26th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Iron Mountain had a return on equity of 14.96% and a net margin of 4.31%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company posted $0.48 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year.
A number of analysts recently issued reports on the company. TheStreet upgraded Iron Mountain from a “c+” rating to a “b-” rating in a research note on Wednesday, June 20th. ValuEngine upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. Zacks Investment Research lowered Iron Mountain from a “buy” rating to a “hold” rating in a research note on Monday, April 30th. Finally, Goldman Sachs Group assumed coverage on Iron Mountain in a research note on Tuesday, March 27th. They set a “buy” rating and a $41.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $41.20.
Shares of NYSE:IRM traded down $0.07 during midday trading on Monday, reaching $34.93. 1,313,538 shares of the company traded hands, compared to its average volume of 1,835,817. The company has a debt-to-equity ratio of 3.55, a quick ratio of 1.24 and a current ratio of 1.24. Iron Mountain has a 12 month low of $30.78 and a 12 month high of $41.53. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 16.40 and a beta of 0.82.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be paid a $0.5875 dividend. The ex-dividend date is Thursday, June 14th. This represents a $2.35 dividend on an annualized basis and a yield of 6.73%. Iron Mountain’s dividend payout ratio is currently 110.33%.
In other Iron Mountain news, Director Clark H. Bailey sold 9,261 shares of the company’s stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $34.55, for a total value of $319,967.55. Following the transaction, the director now directly owns 160,855 shares in the company, valued at approximately $5,557,540.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Certified Advisory Corp bought a new position in Iron Mountain in the 4th quarter worth about $128,000. Global X Management Co. LLC increased its stake in Iron Mountain by 196.2% in the 4th quarter. Global X Management Co. LLC now owns 3,540 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 2,345 shares during the last quarter. Aevitas Wealth Management Inc. bought a new position in Iron Mountain in the 4th quarter worth about $155,000. MANA Advisors LLC bought a new position in Iron Mountain in the 1st quarter worth about $202,000. Finally, IBM Retirement Fund bought a new position in Iron Mountain in the 1st quarter worth about $204,000. Institutional investors and hedge funds own 86.66% of the company’s stock.
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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