Zacks: Analysts Anticipate Iron Mountain Incorporated (IRM) Will Announce Earnings of $0.56 Per Share
Brokerages expect Iron Mountain Incorporated (NYSE:IRM) to announce earnings of $0.56 per share for the current quarter, according to Zacks. Four analysts have provided estimates for Iron Mountain’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.58. Iron Mountain reported earnings of $0.27 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 107.4%. The company is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, November 7th.
According to Zacks, analysts expect that Iron Mountain will report full year earnings of $2.18 per share for the current year, with EPS estimates ranging from $2.10 to $2.25. For the next fiscal year, analysts expect that the firm will post earnings of $2.38 per share, with EPS estimates ranging from $2.30 to $2.45. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Iron Mountain.
Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The company had revenue of $950.00 million during the quarter, compared to the consensus estimate of $955.05 million. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. Iron Mountain’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 EPS.
Several brokerages recently commented on IRM. BidaskClub downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Stifel Nicolaus restated a “buy” rating and issued a $40.00 price target on shares of Iron Mountain in a research report on Sunday, September 3rd. Finally, Robert W. Baird set a $39.00 price target on shares of Iron Mountain and gave the company a “hold” rating in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $36.33.
Iron Mountain (NYSE IRM) opened at 39.01 on Friday. The firm has a market capitalization of $10.31 billion, a P/E ratio of 53.51 and a beta of 0.91. The firm has a 50-day moving average price of $39.12 and a 200 day moving average price of $36.17. Iron Mountain has a one year low of $30.75 and a one year high of $40.64.
The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were given a $0.55 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $2.20 annualized dividend and a dividend yield of 5.64%. Iron Mountain’s dividend payout ratio (DPR) is presently 297.30%.
In other Iron Mountain news, EVP John Tomovcsik sold 21,037 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $40.02, for a total value of $841,900.74. Following the completion of the sale, the executive vice president now owns 62,379 shares in the company, valued at approximately $2,496,407.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 51,401 shares of company stock valued at $1,997,617. 1.50% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Iron Mountain by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 43,398,710 shares of the financial services provider’s stock worth $1,491,180,000 after buying an additional 151,039 shares in the last quarter. BlackRock Inc. lifted its position in Iron Mountain by 5.0% in the 2nd quarter. BlackRock Inc. now owns 18,924,442 shares of the financial services provider’s stock worth $650,244,000 after buying an additional 896,751 shares in the last quarter. State Street Corp lifted its position in Iron Mountain by 3.1% in the 1st quarter. State Street Corp now owns 10,575,065 shares of the financial services provider’s stock worth $377,212,000 after buying an additional 320,851 shares in the last quarter. Epoch Investment Partners Inc. lifted its position in Iron Mountain by 9.2% in the 1st quarter. Epoch Investment Partners Inc. now owns 6,223,354 shares of the financial services provider’s stock worth $221,986,000 after buying an additional 523,420 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Iron Mountain by 27.3% in the 1st quarter. Bank of America Corp DE now owns 4,029,077 shares of the financial services provider’s stock worth $143,718,000 after buying an additional 864,016 shares in the last quarter. Institutional investors own 87.46% of the company’s stock.
Iron Mountain Company Profile
Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.
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