Zacks: Brokerages Expect Iron Mountain Incorporated (IRM) Will Post Earnings of $0.56 Per Share
Brokerages expect Iron Mountain Incorporated (NYSE:IRM) to post $0.56 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Iron Mountain’s earnings, with the highest EPS estimate coming in at $0.58 and the lowest estimate coming in at $0.53. Iron Mountain reported earnings per share of $0.27 during the same quarter last year, which would suggest a positive year over year growth rate of 107.4%. The business is expected to announce its next quarterly earnings results after the market closes on Tuesday, October 24th.
On average, 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 forecast that the firm will post earnings of $2.37 per share, with EPS estimates ranging from $2.30 to $2.45. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow Iron Mountain.
Iron Mountain (NYSE:IRM) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.26. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. The business had revenue of $966.00 million during the quarter, compared to analysts’ expectations of $960.99 million. During the same period in the prior year, the firm posted $0.44 EPS. Iron Mountain’s quarterly revenue was up 2.4% compared to the same quarter last year.
IRM has been the subject of several recent research reports. BidaskClub upgraded Iron Mountain from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Evercore ISI initiated coverage on Iron Mountain in a research note on Wednesday, October 18th. They issued an “outperform” rating and a $46.00 price target for the company. Zacks Investment Research upgraded Iron Mountain from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Monday, October 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 price target on shares of Iron Mountain in a research note on Sunday, September 3rd. Finally, Robert W. Baird set a $39.00 price target on Iron Mountain and gave the company a “hold” rating in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $40.40.
Shares of Iron Mountain (NYSE IRM) traded down 0.40% during trading on Tuesday, hitting $39.90. The stock had a trading volume of 1,692,423 shares. The stock’s 50-day moving average is $39.56 and its 200-day moving average is $36.62. 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 P/E ratio of 54.73 and a beta of 0.91.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be given a dividend of $0.5875 per share. This is an increase 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 Iron Mountain news, EVP Theodore Maclean sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $38.13, for a total transaction of $57,195.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Tomovcsik sold 21,037 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $40.02, for a total transaction of $841,900.74. Following the transaction, the executive vice president now owns 62,379 shares of the company’s stock, valued at $2,496,407.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,329 shares of company stock valued at $2,969,441. Company insiders own 1.50% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in IRM. Creative Planning raised its position in Iron Mountain by 4.6% during the second quarter. Creative Planning now owns 3,049 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 134 shares in the last quarter. Pacer Advisors Inc. raised its position in Iron Mountain by 8.8% during the second quarter. Pacer Advisors Inc. now owns 3,985 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 322 shares in the last quarter. CIBC World Markets Inc. acquired a new position in Iron Mountain during the second quarter valued at approximately $203,000. Penserra Capital Management LLC raised its position in Iron Mountain by 7.5% during the second quarter. Penserra Capital Management LLC now owns 6,019 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 422 shares in the last quarter. Finally, Bridgewater Associates LP acquired a new position in Iron Mountain during the second quarter valued at approximately $207,000. Institutional investors and hedge funds own 87.54% 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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