Iron Mountain (IRM) to Release Earnings on Wednesday

Iron Mountain (NYSE:IRM) will be announcing its earnings results before the market opens on Wednesday, November 6th. Analysts expect the company to announce earnings of $1.02 per share for the quarter. Iron Mountain has set its FY 2024 guidance at EPS and its FY24 guidance at $4.39-$4.51 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the company earned $0.94 EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts expect Iron Mountain to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Iron Mountain Trading Down 0.4 %

Shares of IRM stock opened at $127.60 on Wednesday. The stock has a market cap of $37.43 billion, a P/E ratio of 163.59, a price-to-earnings-growth ratio of 7.42 and a beta of 1.00. Iron Mountain has a 1 year low of $57.36 and a 1 year high of $130.24. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The stock has a 50 day simple moving average of $117.85 and a 200 day simple moving average of $99.34.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were issued a dividend of $0.715 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Monday, September 16th. Iron Mountain’s dividend payout ratio is 366.67%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IRM. Barclays increased their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group raised their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus raised their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. boosted their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company raised their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Tomovcsik sold 2,866 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the sale, the chief operating officer now owns 15,000 shares of the company’s stock, valued at $1,575,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,503 shares of company stock worth $3,511,505. 2.10% of the stock is currently owned by insiders.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.