Iron Mountain (NYSE:IRM) Posts Earnings Results, Beats Expectations By $0.03 EPS

Iron Mountain (NYSE:IRM) posted its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03, Zacks reports. Iron Mountain had a net margin of 2.40% and a negative return on equity of 112.70%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the firm posted $1.13 EPS. Iron Mountain’s revenue was up 12.7% on a year-over-year basis. Iron Mountain updated its FY 2025 guidance to 5.040-5.130 EPS.

Iron Mountain Price Performance

Shares of IRM stock traded up $0.60 during midday trading on Thursday, reaching $84.88. 476,326 shares of the company traded hands, compared to its average volume of 1,787,618. Iron Mountain has a 1-year low of $72.33 and a 1-year high of $121.00. The firm has a market cap of $25.09 billion, a PE ratio of 159.93 and a beta of 1.14. The firm’s 50 day simple moving average is $98.21 and its two-hundred day simple moving average is $97.79.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be issued a $0.864 dividend. The ex-dividend date of this dividend is Monday, December 15th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 dividend on an annualized basis and a dividend yield of 4.1%. Iron Mountain’s dividend payout ratio is presently 650.94%.

Analysts Set New Price Targets

Several research firms have commented on IRM. JPMorgan Chase & Co. increased their price objective on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Jefferies Financial Group started coverage on Iron Mountain in a research note on Monday, September 22nd. They set a “buy” rating and a $120.00 target price on the stock. Barclays increased their price target on Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 12th. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.80.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $83.34, for a total value of $5,760,877.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $85.00, for a total transaction of $510,000.00. Following the sale, the executive vice president directly owned 61,081 shares of the company’s stock, valued at $5,191,885. This represents a 8.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 226,681 shares of company stock worth $21,799,375. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of Iron Mountain

Several hedge funds have recently added to or reduced their stakes in IRM. Johnson Financial Group Inc. acquired a new stake in Iron Mountain during the 3rd quarter worth about $32,000. Wealth Watch Advisors INC purchased a new position in shares of Iron Mountain in the third quarter worth approximately $44,000. Quarry LP raised its holdings in shares of Iron Mountain by 52.7% during the third quarter. Quarry LP now owns 852 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 294 shares during the period. MUFG Securities EMEA plc purchased a new stake in shares of Iron Mountain in the 2nd quarter valued at approximately $89,000. Finally, Headlands Technologies LLC acquired a new position in Iron Mountain in the 2nd quarter worth approximately $115,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.