Iron Mountain Incorporated (IRM) Announces Earnings Results, Beats Estimates By $0.02 EPS
Iron Mountain Incorporated (NYSE:IRM) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02, Yahoo Finance reports. The company had revenue of $966.00 million during the quarter, compared to the consensus estimate of $960.99 million. Iron Mountain had a net margin of 5.14% and a return on equity of 14.46%. Iron Mountain’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 earnings per share.
Iron Mountain (NYSE IRM) opened at 39.90 on Wednesday. Iron Mountain has a 12-month low of $30.75 and a 12-month high of $41.17. The stock has a market capitalization of $10.55 billion, a price-to-earnings ratio of 54.73 and a beta of 0.91. The firm has a 50-day moving average of $39.56 and a 200 day moving average of $36.62.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be issued a $0.5875 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.55. This represents a $2.35 annualized dividend and a yield of 5.89%. Iron Mountain’s payout ratio is currently 297.30%.
In other news, EVP John Tomovcsik sold 29,450 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $38.00, for a total value of $1,119,100.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Theodore Maclean sold 1,500 shares of the firm’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $38.13, for a total transaction of $57,195.00. The disclosure for this sale can be found here. Insiders sold a total of 76,329 shares of company stock worth $2,969,441 over the last 90 days. Company insiders own 1.50% of the company’s stock.
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A number of brokerages recently commented on IRM. BidaskClub downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Stifel Nicolaus reissued a “buy” rating and issued a $43.00 price objective (up previously from $40.00) on shares of Iron Mountain in a research note on Friday, October 20th. Robert W. Baird set a $39.00 price objective on shares of Iron Mountain and gave the stock a “hold” rating in a research note on Friday, August 25th. Finally, Evercore ISI began coverage on shares of Iron Mountain in a research note on Wednesday, October 18th. They issued an “outperform” rating and a $46.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $40.40.
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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