Analysts Expect Iron Mountain Incorporated (IRM) Will Announce Earnings of $0.56 Per Share
Equities research analysts expect that Iron Mountain Incorporated (NYSE:IRM) will report earnings per share of $0.56 for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Iron Mountain’s earnings, with estimates ranging from $0.53 to $0.58. Iron Mountain posted earnings per share of $0.27 during the same quarter last year, which indicates a positive year-over-year growth rate of 107.4%. The business is scheduled to issue its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that Iron Mountain will report full-year earnings of $2.18 per share for the current fiscal year, with EPS estimates ranging from $2.10 to $2.25. For the next financial year, analysts anticipate that the firm will post earnings of $2.38 per share, with EPS estimates ranging from $2.30 to $2.45. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Iron Mountain.
Iron Mountain (NYSE:IRM) last posted its earnings results on Friday, July 28th. The financial services provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. The firm had revenue of $950.00 million for the quarter, compared to analysts’ expectations of $955.05 million. During the same period last year, the firm earned $0.24 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year.
Several research firms have issued reports on IRM. BidaskClub downgraded Iron Mountain from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $40.00 price objective on shares of Iron Mountain in a report on Sunday, September 3rd. Deutsche Bank AG downgraded Iron Mountain from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $41.00 to $30.00 in a report on Wednesday, June 7th. Finally, Robert W. Baird set a $39.00 price objective on Iron Mountain and gave the stock a “hold” rating in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $36.50.
In other Iron Mountain news, EVP John Tomovcsik sold 29,450 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $38.00, for a total transaction of $1,119,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 50,888 shares of company stock valued at $1,976,840 in the last quarter. Corporate insiders own 1.50% of the company’s stock.
Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Iron Mountain by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 43,398,710 shares of the financial services provider’s stock valued at $1,491,180,000 after acquiring an additional 151,039 shares during the last quarter. BlackRock Inc. raised its position in shares of Iron Mountain by 5.0% during the 2nd quarter. BlackRock Inc. now owns 18,924,442 shares of the financial services provider’s stock valued at $650,244,000 after acquiring an additional 896,751 shares during the last quarter. State Street Corp raised its position in shares of Iron Mountain by 3.1% during the 1st quarter. State Street Corp now owns 10,575,065 shares of the financial services provider’s stock valued at $377,212,000 after acquiring an additional 320,851 shares during the last quarter. Epoch Investment Partners Inc. raised its position in shares of Iron Mountain by 9.2% during the 1st quarter. Epoch Investment Partners Inc. now owns 6,223,354 shares of the financial services provider’s stock valued at $221,986,000 after acquiring an additional 523,420 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Iron Mountain by 27.3% during the 1st quarter. Bank of America Corp DE now owns 4,029,077 shares of the financial services provider’s stock valued at $143,718,000 after acquiring an additional 864,016 shares during the last quarter. Institutional investors own 87.48% of the company’s stock.
Iron Mountain (NYSE IRM) traded up 0.82% during mid-day trading on Friday, reaching $39.47. The company had a trading volume of 4,769,784 shares. The stock has a market capitalization of $10.44 billion, a price-to-earnings ratio of 54.14 and a beta of 0.92. The company’s 50 day moving average is $38.25 and its 200 day moving average is $35.76. Iron Mountain has a 52-week low of $30.75 and a 52-week high of $40.44.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 5.57%. The ex-dividend date is Thursday, September 14th. Iron Mountain’s dividend payout ratio is 297.30%.
About Iron Mountain
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Iron Mountain Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iron Mountain Incorporated and related stocks with our FREE daily email newsletter.