Wall Street brokerages predict that Iron Mountain Inc (NYSE:IRM) will post earnings per share of $0.53 for the current fiscal quarter, according to Zacks. Seven 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 $0.54. Iron Mountain reported earnings of $0.55 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.6%. The business is expected to announce its next quarterly earnings report before the market opens on Thursday, October 25th.
According to Zacks, analysts expect that Iron Mountain will report full year earnings of $2.12 per share for the current fiscal year, with EPS estimates ranging from $2.02 to $2.19. For the next financial year, analysts expect that the business will report earnings of $2.29 per share, with EPS estimates ranging from $2.21 to $2.40. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Iron Mountain.
Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Friday, July 27th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.03. Iron Mountain had a net margin of 4.56% and a return on equity of 14.82%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company earned $0.30 EPS. The business’s quarterly revenue was up 11.7% compared to the same quarter last year.
A number of analysts recently weighed in on IRM shares. TheStreet raised shares of Iron Mountain from a “c+” rating to a “b-” rating in a research report on Wednesday, June 20th. Zacks Investment Research cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Barclays started coverage on shares of Iron Mountain in a research report on Wednesday, July 18th. They set an “equal weight” rating and a $39.00 price target for the company. Credit Suisse Group started coverage on shares of Iron Mountain in a research report on Friday, August 10th. They set an “underperform” rating and a $25.00 price target for the company. Finally, Berenberg Bank started coverage on shares of Iron Mountain in a research report on Thursday, September 20th. They set a “buy” rating and a $52.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Iron Mountain presently has a consensus rating of “Hold” and an average target price of $40.25.
Shares of NYSE IRM opened at $33.55 on Friday. Iron Mountain has a 52-week low of $30.78 and a 52-week high of $41.53. The firm has a market cap of $9.88 billion, a PE ratio of 15.75 and a beta of 0.61. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.98 and a quick ratio of 0.98.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Monday, September 17th were given a dividend of $0.5875 per share. The ex-dividend date was Friday, September 14th. This represents a $2.35 dividend on an annualized basis and a yield of 7.00%. Iron Mountain’s dividend payout ratio (DPR) is 110.33%.
In other Iron Mountain news, CFO Stuart B. Brown sold 1,750 shares of the business’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $35.38, for a total value of $61,915.00. Following the transaction, the chief financial officer now owns 7,661 shares in the company, valued at approximately $271,046.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of IRM. Synovus Financial Corp lifted its holdings in Iron Mountain by 402.0% in the 2nd quarter. Synovus Financial Corp now owns 3,012 shares of the financial services provider’s stock worth $106,000 after buying an additional 2,412 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in Iron Mountain in the 2nd quarter worth $115,000. MANA Advisors LLC acquired a new stake in shares of Iron Mountain in the 1st quarter valued at about $202,000. Klingenstein Fields & Co. LLC acquired a new stake in shares of Iron Mountain in the 2nd quarter valued at about $202,000. Finally, Qube Research & Technologies Ltd raised its stake in shares of Iron Mountain by 775.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 5,772 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 5,113 shares in the last quarter. Hedge funds and other institutional investors own 86.04% of the company’s stock.
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.
Further Reading: Marijuana Stocks Investing Considerations
Get a free copy of the Zacks research report on Iron Mountain (IRM)
For more information about research offerings from Zacks Investment Research, visit Zacks.com