Iron Mountain Inc (NYSE:IRM) Expected to Post Quarterly Sales of $983.76 Million

Wall Street brokerages predict that Iron Mountain Inc (NYSE:IRM) will announce $983.76 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Iron Mountain’s earnings, with the lowest sales estimate coming in at $913.62 million and the highest estimate coming in at $1.08 billion. Iron Mountain reported sales of $1.07 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.1%. The firm is expected to report its next earnings results 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 report sales of $4.31 billion, with estimates ranging from $4.03 billion to $4.54 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Iron Mountain.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, May 7th. The financial services provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Iron Mountain had a net margin of 7.06% and a return on equity of 19.16%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm earned $0.17 earnings per share. Iron Mountain’s quarterly revenue was up 1.4% compared to the same quarter last year.

IRM has been the topic of a number of analyst reports. Credit Suisse Group reduced their target price on shares of Iron Mountain from $18.00 to $17.00 and set an “underperform” rating on the stock in a research note on Friday, May 8th. ValuEngine downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday, April 27th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Iron Mountain presently has an average rating of “Hold” and an average target price of $31.09.

IRM stock traded up $0.03 during trading on Friday, reaching $24.67. 7,576,744 shares of the stock were exchanged, compared to its average volume of 4,371,846. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 9.31. The business has a 50 day moving average price of $25.96 and a 200-day moving average price of $28.43. Iron Mountain has a 1 year low of $21.00 and a 1 year high of $34.49. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 1.98 and a beta of 0.69.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 15th will be paid a $0.6185 dividend. This represents a $2.47 dividend on an annualized basis and a dividend yield of 10.03%. The ex-dividend date is Friday, June 12th. Iron Mountain’s dividend payout ratio (DPR) is 107.86%.

In other news, Director Pamela M. Arway sold 7,011 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $23.60, for a total value of $165,459.60. Following the sale, the director now directly owns 25,282 shares of the company’s stock, valued at approximately $596,655.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. HBC Financial Services PLLC acquired a new position in shares of Iron Mountain in the fourth quarter valued at approximately $28,000. Enterprise Financial Services Corp grew its holdings in shares of Iron Mountain by 485.9% in the first quarter. Enterprise Financial Services Corp now owns 1,207 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,001 shares in the last quarter. Credit Agricole S A acquired a new position in shares of Iron Mountain in the fourth quarter valued at approximately $32,000. Private Capital Group LLC grew its holdings in shares of Iron Mountain by 122.2% in the first quarter. Private Capital Group LLC now owns 1,584 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 871 shares in the last quarter. Finally, Trustcore Financial Services LLC grew its holdings in shares of Iron Mountain by 70.1% in the first quarter. Trustcore Financial Services LLC now owns 1,701 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 701 shares in the last quarter. Hedge funds and other institutional investors own 84.84% of the company’s stock.

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 approximately 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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