Wall Street analysts forecast that Iron Mountain Inc (NYSE:IRM) will post $983.76 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Iron Mountain’s earnings. The lowest sales estimate is $913.62 million and the highest is $1.08 billion. Iron Mountain reported sales of $1.07 billion during the same quarter last year, which indicates a negative year over year growth rate of 8.1%. The company is expected to announce its next quarterly earnings report on Thursday, August 6th.
According to Zacks, analysts expect that Iron Mountain will report full-year sales of $3.94 billion for the current fiscal year, with estimates ranging from $3.91 billion to $3.96 billion. For the next year, analysts forecast that the firm will post sales of $4.31 billion, with estimates ranging from $4.03 billion to $4.54 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Iron Mountain.
Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.09. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. Iron Mountain had a net margin of 7.06% and a return on equity of 19.16%. The company’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 EPS.
In other news, Director Jennifer Allerton sold 7,011 shares of Iron Mountain stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $27.30, for a total transaction of $191,400.30. Following the sale, the director now owns 12,812 shares in the company, valued at $349,767.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its holdings in Iron Mountain by 22.7% in the fourth quarter. Russell Investments Group Ltd. now owns 59,331 shares of the financial services provider’s stock worth $1,882,000 after purchasing an additional 10,963 shares during the period. Victory Capital Management Inc. boosted its holdings in Iron Mountain by 401.0% in the fourth quarter. Victory Capital Management Inc. now owns 18,002 shares of the financial services provider’s stock worth $569,000 after purchasing an additional 14,409 shares during the period. Sowell Financial Services LLC boosted its holdings in Iron Mountain by 1,590.8% in the fourth quarter. Sowell Financial Services LLC now owns 3,314 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 3,118 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Iron Mountain by 46.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 27,677 shares of the financial services provider’s stock worth $882,000 after purchasing an additional 8,833 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Iron Mountain by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,988,229 shares of the financial services provider’s stock worth $63,365,000 after purchasing an additional 39,080 shares during the period. Institutional investors own 84.84% of the company’s stock.
Shares of IRM stock traded up $0.03 during trading hours on Friday, hitting $24.67. 7,576,744 shares of the company were exchanged, compared to its average volume of 4,371,846. The firm has a market cap of $7.09 billion, a PE ratio of 23.72, a PEG ratio of 1.98 and a beta of 0.69. Iron Mountain has a 1 year low of $21.00 and a 1 year high of $34.49. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 9.31. The firm has a fifty day moving average of $25.96 and a 200 day moving average of $28.43.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 15th will be issued a $0.6185 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $2.47 annualized dividend and a yield of 10.03%. Iron Mountain’s payout ratio is 107.86%.
About Iron Mountain
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 approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.
Further Reading: Earnings Per Share
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