$1.05 Billion in Sales Expected for Iron Mountain Inc (IRM) This Quarter

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Analysts expect Iron Mountain Inc (NYSE:IRM) to report sales of $1.05 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Iron Mountain’s earnings. The lowest sales estimate is $1.04 billion and the highest is $1.06 billion. Iron Mountain reported sales of $949.81 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.5%. The company is scheduled to issue its next quarterly earnings results on Friday, July 27th.

On average, analysts expect that Iron Mountain will report full-year sales of $4.22 billion for the current year, with estimates ranging from $4.17 billion to $4.27 billion. For the next year, analysts forecast that the business will post sales of $4.39 billion per share, with estimates ranging from $4.32 billion to $4.50 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Iron Mountain.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, April 26th. The financial services provider reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Iron Mountain had a return on equity of 14.96% and a net margin of 4.31%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 EPS.

Several brokerages recently issued reports on IRM. Zacks Investment Research cut Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday. TheStreet upgraded Iron Mountain from a “c+” rating to a “b-” rating in a research note on Wednesday, June 20th. ValuEngine upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. Finally, Goldman Sachs Group started coverage on Iron Mountain in a research note on Tuesday, March 27th. They issued a “buy” rating and a $41.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $41.20.

Iron Mountain traded up $0.66, hitting $35.56, during trading hours on Wednesday, according to MarketBeat. 840,886 shares of the stock were exchanged, compared to its average volume of 1,907,468. Iron Mountain has a 12 month low of $30.78 and a 12 month high of $41.53. The stock has a market capitalization of $9.98 billion, a PE ratio of 16.69 and a beta of 0.69. The company has a debt-to-equity ratio of 3.55, a current ratio of 1.24 and a quick ratio of 1.24.

The company also recently announced a quarterly dividend, which was paid on Monday, July 2nd. Investors of record on Friday, June 15th were issued a dividend of $0.5875 per share. This represents a $2.35 dividend on an annualized basis and a yield of 6.61%. The ex-dividend date of this dividend was Thursday, June 14th. Iron Mountain’s payout ratio is currently 110.33%.

In related news, Director Clark H. Bailey sold 9,261 shares of Iron Mountain stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $34.55, for a total value of $319,967.55. Following the transaction, the director now owns 160,855 shares of the company’s stock, valued at approximately $5,557,540.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of Iron Mountain by 2.1% during the 1st quarter. BlackRock Inc. now owns 20,439,966 shares of the financial services provider’s stock valued at $671,656,000 after buying an additional 423,622 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Iron Mountain by 123.0% during the 1st quarter. JPMorgan Chase & Co. now owns 6,708,592 shares of the financial services provider’s stock valued at $220,444,000 after buying an additional 3,700,599 shares during the last quarter. Centersquare Investment Management LLC acquired a new stake in shares of Iron Mountain during the 1st quarter valued at about $136,962,000. Dimensional Fund Advisors LP lifted its holdings in shares of Iron Mountain by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,924,193 shares of the financial services provider’s stock valued at $128,948,000 after buying an additional 173,605 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Iron Mountain by 9.3% during the 4th quarter. Geode Capital Management LLC now owns 3,040,298 shares of the financial services provider’s stock valued at $114,482,000 after buying an additional 258,581 shares during the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

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 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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