Zacks Research Raises Earnings Estimates for Iron Mountain

Iron Mountain Incorporated (NYSE:IRM) – Research analysts at Zacks Research upped their FY2025 EPS estimates for shares of Iron Mountain in a research note issued to investors on Tuesday, October 15th. Zacks Research analyst R. Department now anticipates that the financial services provider will earn $4.47 per share for the year, up from their previous estimate of $4.41. The consensus estimate for Iron Mountain’s current full-year earnings is $4.17 per share.

Several other research analysts have also issued reports on the stock. Stifel Nicolaus raised their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. The Goldman Sachs Group upped their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Barclays lifted their price objective on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

Iron Mountain Trading Up 0.9 %

Shares of IRM stock opened at $124.51 on Thursday. The stock has a 50-day moving average of $115.09 and a 200-day moving average of $96.38. Iron Mountain has a 1-year low of $57.36 and a 1-year high of $124.79. The stock has a market cap of $36.50 billion, a price-to-earnings ratio of 188.65, a PEG ratio of 7.22 and a beta of 1.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.59). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS.

Hedge Funds Weigh In On Iron Mountain

Institutional investors and hedge funds have recently bought and sold shares of the company. Fisher Asset Management LLC bought a new position in shares of Iron Mountain during the 4th quarter worth $271,000. PNC Financial Services Group Inc. boosted its position in Iron Mountain by 1.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 48,996 shares of the financial services provider’s stock worth $3,429,000 after purchasing an additional 748 shares during the period. Kapitalo Investimentos Ltda purchased a new position in shares of Iron Mountain in the fourth quarter worth about $97,000. GAMMA Investing LLC raised its position in shares of Iron Mountain by 15.8% in the first quarter. GAMMA Investing LLC now owns 1,806 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 247 shares during the period. Finally, Mather Group LLC. purchased a new stake in shares of Iron Mountain during the 1st quarter valued at approximately $191,000. 80.13% of the stock is owned by institutional investors.

Insider Activity at Iron Mountain

In other news, COO John Tomovcsik sold 2,866 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the sale, the chief operating officer now directly owns 15,000 shares of the company’s stock, valued at $1,575,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Iron Mountain news, COO John Tomovcsik sold 2,866 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the sale, the chief operating officer now directly owns 15,000 shares of the company’s stock, valued at approximately $1,575,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,503 shares of company stock valued at $3,511,505. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is currently 433.33%.

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.