Brokerages forecast that Iron Mountain Inc (NYSE:IRM) will report $1.04 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Iron Mountain’s earnings, with the highest sales estimate coming in at $1.08 billion and the lowest estimate coming in at $1.03 billion. Iron Mountain reported sales of $965.66 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.7%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, October 25th.
According to Zacks, analysts expect that Iron Mountain will report full year sales of $4.19 billion for the current fiscal year, with estimates ranging from $4.16 billion to $4.20 billion. For the next fiscal year, analysts anticipate that the company will post sales of $4.36 billion, with estimates ranging from $4.22 billion to $4.50 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Iron Mountain.
Iron Mountain (NYSE:IRM) last posted its earnings results on Friday, July 27th. The financial services provider reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.03. Iron Mountain had a return on equity of 14.82% and a net margin of 4.56%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company earned $0.30 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis.
Several research analysts have commented on IRM shares. Zacks Investment Research raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. Barclays started coverage on Iron Mountain in a research report on Wednesday, July 18th. They issued an “equal weight” rating and a $39.00 price target on the stock. Berenberg Bank started coverage on Iron Mountain in a research report on Thursday, September 20th. They issued a “buy” rating and a $52.00 price target on the stock. TheStreet raised Iron Mountain from a “c+” rating to a “b-” rating in a research report on Wednesday, June 20th. Finally, Credit Suisse Group started coverage on Iron Mountain in a research report on Friday, August 10th. They issued an “underperform” rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $40.25.
Shares of NYSE IRM opened at $33.91 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 3.87. The company has a market capitalization of $9.88 billion, a price-to-earnings ratio of 16.00 and a beta of 0.61. Iron Mountain has a 12 month low of $30.78 and a 12 month high of $41.53.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Shareholders of record on Monday, September 17th were given a $0.5875 dividend. This represents a $2.35 annualized dividend and a yield of 6.93%. The ex-dividend date was Friday, September 14th. Iron Mountain’s dividend payout ratio is currently 110.33%.
In other Iron Mountain news, CFO Stuart B. Brown sold 1,750 shares of Iron Mountain stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $35.38, for a total value of $61,915.00. Following the transaction, the chief financial officer now directly owns 7,661 shares of the company’s stock, valued at approximately $271,046.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in shares of Iron Mountain by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,023,813 shares of the financial services provider’s stock valued at $140,871,000 after purchasing an additional 99,620 shares during the period. River Road Asset Management LLC increased its position in shares of Iron Mountain by 4.3% during the second quarter. River Road Asset Management LLC now owns 2,665,354 shares of the financial services provider’s stock valued at $93,314,000 after purchasing an additional 111,077 shares during the period. Raymond James & Associates increased its position in shares of Iron Mountain by 4.4% during the second quarter. Raymond James & Associates now owns 2,468,404 shares of the financial services provider’s stock valued at $86,419,000 after purchasing an additional 105,108 shares during the period. Makaira Partners LLC increased its position in shares of Iron Mountain by 0.7% during the second quarter. Makaira Partners LLC now owns 1,829,944 shares of the financial services provider’s stock valued at $64,066,000 after purchasing an additional 13,370 shares during the period. Finally, Thompson Siegel & Walmsley LLC increased its position in shares of Iron Mountain by 21.7% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,787,952 shares of the financial services provider’s stock valued at $62,596,000 after purchasing an additional 319,006 shares during the period. 86.04% of the stock is currently owned by institutional investors.
Iron Mountain Company Profile
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.
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