$962.40 Million in Sales Expected for Iron Mountain Incorporated (IRM) This Quarter
Analysts expect that Iron Mountain Incorporated (NYSE:IRM) will announce sales of $962.40 million for the current quarter, Zacks reports. Four analysts have provided estimates for Iron Mountain’s earnings, with estimates ranging from $955.29 million to $972.53 million. Iron Mountain reported sales of $942.82 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.1%. The company is scheduled to report its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Iron Mountain will report full-year sales of $962.40 million for the current fiscal year, with estimates ranging from $3.79 billion to $3.83 billion. For the next year, analysts anticipate that the firm will post sales of $3.92 billion per share, with estimates ranging from $3.90 billion to $3.96 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Iron Mountain.
Iron Mountain (NYSE:IRM) last posted its earnings results on Friday, July 28th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $955.05 million. During the same quarter in the prior year, the company earned $0.24 EPS. Iron Mountain’s revenue was up 7.5% on a year-over-year basis.
IRM has been the topic of several recent research reports. BidaskClub upgraded shares of Iron Mountain from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Zacks Investment Research lowered shares of Iron Mountain from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Stifel Nicolaus restated a “buy” rating and issued a $40.00 price target on shares of Iron Mountain in a research report on Friday, June 9th. Robert W. Baird set a $39.00 price target on shares of Iron Mountain and gave the stock a “hold” rating in a research report on Friday, August 25th. Finally, Deutsche Bank AG lowered shares of Iron Mountain from a “hold” rating to a “sell” rating and decreased their price target for the stock from $41.00 to $30.00 in a research report on Wednesday, June 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $36.50.
Shares of Iron Mountain (IRM) opened at 39.42 on Tuesday. Iron Mountain has a 1-year low of $30.75 and a 1-year high of $40.44. The company has a 50-day moving average price of $38.37 and a 200-day moving average price of $35.77. The stock has a market cap of $10.42 billion, a price-to-earnings ratio of 54.07 and a beta of 0.92.
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 given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 5.58%. The ex-dividend date of this dividend is Thursday, September 14th. Iron Mountain’s payout ratio is 297.30%.
In other Iron Mountain news, EVP John Tomovcsik sold 21,037 shares of Iron Mountain 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 directly owns 62,379 shares in the company, valued at approximately $2,496,407.58. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 50,888 shares of company stock worth $1,976,840. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Griffin Asset Management Inc. purchased a new position in Iron Mountain during the 2nd quarter worth approximately $350,000. Atlantic Trust LLC purchased a new position in Iron Mountain during the 2nd quarter worth approximately $391,000. Toronto Dominion Bank grew its position in Iron Mountain by 25.7% during the 2nd quarter. Toronto Dominion Bank now owns 83,270 shares of the financial services provider’s stock worth $2,861,000 after purchasing an additional 17,028 shares in the last quarter. Koch Industries Inc. purchased a new position in Iron Mountain during the 2nd quarter worth approximately $366,000. Finally, Orleans Capital Management Corp LA grew its position in Iron Mountain by 2.0% during the 2nd quarter. Orleans Capital Management Corp LA now owns 51,708 shares of the financial services provider’s stock worth $1,777,000 after purchasing an additional 993 shares in the last quarter. Hedge funds and other 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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