Analysts expect Iron Mountain Inc (NYSE:IRM) to announce earnings per share of $0.51 for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Iron Mountain’s earnings. The highest EPS estimate is $0.56 and the lowest is $0.44. Iron Mountain posted earnings per share of $0.56 in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.9%. The business is expected to issue its next quarterly earnings report on Friday, July 26th.
On average, analysts expect that Iron Mountain will report full-year earnings of $2.22 per share for the current year, with EPS estimates ranging from $1.98 to $2.46. For the next year, analysts forecast that the business will post earnings of $2.38 per share, with EPS estimates ranging from $2.22 to $2.50. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Iron Mountain.
Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.05). The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. Iron Mountain had a net margin of 8.22% and a return on equity of 19.61%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 EPS.
Several analysts recently commented on the stock. TheStreet lowered shares of Iron Mountain from a “b-” rating to a “c+” rating in a research report on Tuesday, May 14th. Zacks Investment Research lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Finally, Robert W. Baird lowered shares of Iron Mountain from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $34.00 to $27.00 in a research report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $35.13.
In other news, EVP Ernest W. Cloutier sold 46,014 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $36.41, for a total value of $1,675,369.74. Following the transaction, the executive vice president now directly owns 109,757 shares of the company’s stock, valued at $3,996,252.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Edward Bicks sold 2,922 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $36.55, for a total transaction of $106,799.10. Following the completion of the transaction, the senior vice president now directly owns 2,922 shares in the company, valued at $106,799.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,602 shares of company stock worth $2,038,718. Company insiders own 1.90% of the company’s stock.
Several large investors have recently bought and sold shares of IRM. Cohen & Steers Inc. lifted its stake in shares of Iron Mountain by 68.4% in the fourth quarter. Cohen & Steers Inc. now owns 10,970,773 shares of the financial services provider’s stock worth $355,563,000 after buying an additional 4,456,942 shares in the last quarter. Norges Bank purchased a new position in Iron Mountain during the fourth quarter worth about $63,345,000. Deutsche Bank AG raised its stake in Iron Mountain by 250.0% during the fourth quarter. Deutsche Bank AG now owns 2,734,846 shares of the financial services provider’s stock worth $88,631,000 after purchasing an additional 1,953,547 shares during the period. Stifel Financial Corp raised its stake in Iron Mountain by 418.9% during the fourth quarter. Stifel Financial Corp now owns 1,940,923 shares of the financial services provider’s stock worth $62,906,000 after purchasing an additional 1,566,863 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in Iron Mountain by 3,181.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,009,734 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 978,966 shares during the period. 88.04% of the stock is currently owned by hedge funds and other institutional investors.
IRM stock traded down $0.63 during midday trading on Tuesday, hitting $30.88. 2,655,010 shares of the stock traded hands, compared to its average volume of 2,385,433. The firm has a market capitalization of $9.03 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 3.11 and a beta of 0.64. The company has a debt-to-equity ratio of 4.75, a quick ratio of 0.80 and a current ratio of 0.80. The company’s fifty day moving average is $31.50. Iron Mountain has a 1-year low of $30.22 and a 1-year high of $37.32.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 17th will be given a $0.611 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.44 annualized dividend and a dividend yield of 7.91%. Iron Mountain’s dividend payout ratio (DPR) is 106.09%.
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 approximately 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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