Iron Mountain Given “Neutral” Rating at Zacks (IRM)
Iron Mountain (NYSE:IRM)‘s stock had its “neutral” rating restated by Zacks in a report issued on Thursday, AnalystRatingsNetwork.com reports. They currently have a $30.00 price target on the stock. Zacks‘ price objective would indicate a potential upside of 6.35% from the stock’s previous close.
Zacks‘ analyst wrote, “Iron Mountain reported mixed third-quarter 2013 result. Although earnings beat the Zacks Consensus Estimate, revenues lagged the same. The company provided positive near-term guidance. We believe that Iron Mountain’s strong product portfolio, increasing market share and promising international business are the primary growth catalysts. The company’s decision to convert to REIT to reduce the tax burden and increase shareholders’ value are the other positives. Moreover, the company’s entry into the data center market could act as a positive factor. However, costs related to conversion and fluctuations in recycled paper prices are the near-term headwinds for the company. Moreover, volatile foreign exchange rates and increasing competition are the other headwinds. Thus, we maintain a Neutral recommendation on Iron Mountain and set a price target of $30.00. “
A number of other analysts have also recently weighed in on IRM. Analysts at Jefferies Group initiated coverage on shares of Iron Mountain in a research note to investors on Tuesday, December 17th. They set a “hold” rating and a $27.00 price target on the stock. Separately, analysts at Robert W. Baird upgraded shares of Iron Mountain from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, October 14th. They now have a $34.00 price target on the stock. Finally, analysts at Barclays downgraded shares of Iron Mountain from an “equal weight” rating to an “underweight” rating in a research note to investors on Friday, October 11th. They now have a $23.00 price target on the stock, down previously from $30.00. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Iron Mountain presently has a consensus rating of “Hold” and an average target price of $32.58.
Iron Mountain (NYSE:IRM) traded down 0.69% on Thursday, hitting $28.015. 1,934,854 shares of the company’s stock traded hands. Iron Mountain has a one year low of $25.03 and a one year high of $39.71. The stock has a 50-day moving average of $29.06 and a 200-day moving average of $27.61. The company has a market cap of $5.357 billion and a price-to-earnings ratio of 70.88.
Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, October 31st. The company reported $0.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.01. The company had revenue of $756.00 million for the quarter, compared to the consensus estimate of $757.17 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Analysts expect that Iron Mountain will post $1.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, January 15th. Stockholders of record on Friday, December 27th will be paid a dividend of 0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Tuesday, December 24th.
Iron Mountain Incorporated (NYSE:IRM) is engaged in storing records, primarily paper documents and data backup media, and provide information management services.
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