Zacks Research Cuts Earnings Estimates for Iron Mountain

Iron Mountain Incorporated (NYSE:IRM - Free Report) - Investment analysts at Zacks Research lowered their FY2027 earnings per share estimates for Iron Mountain in a research report issued to clients and investors on Thursday, March 27th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings of $5.60 per share for the year, down from their previous forecast of $5.71. The consensus estimate for Iron Mountain's current full-year earnings is $4.54 per share.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period last year, the business posted $0.52 EPS.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. dropped their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Wells Fargo & Company dropped their price objective on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Barclays reduced their target price on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. Finally, StockNews.com downgraded shares of Iron Mountain from a "hold" rating to a "sell" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $125.67.

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Iron Mountain Trading Down 5.7 %

Shares of IRM stock traded down $5.04 during trading on Monday, reaching $83.07. 1,967,556 shares of the company's stock traded hands, compared to its average volume of 1,774,710. The firm's 50-day moving average is $93.03 and its 200 day moving average is $107.57. The company has a market capitalization of $24.40 billion, a P/E ratio of 136.17, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain has a 1 year low of $73.53 and a 1 year high of $130.24.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.78%. Iron Mountain's payout ratio is presently 514.75%.

Insider Buying and Selling

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the transaction, the executive vice president now owns 13,054 shares of the company's stock, valued at $1,211,933.36. The trade was a 11.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 318,973 shares of company stock worth $29,370,872. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Iron Mountain

Hedge funds and other institutional investors have recently modified their holdings of the company. Franchise Capital Ltd purchased a new stake in Iron Mountain in the first quarter worth approximately $39,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Iron Mountain by 2.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 7,078 shares of the financial services provider's stock valued at $609,000 after purchasing an additional 142 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Iron Mountain by 23.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 51,874 shares of the financial services provider's stock valued at $5,453,000 after purchasing an additional 9,937 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in Iron Mountain in the 4th quarter worth $10,217,000. Finally, Comprehensive Money Management Services LLC bought a new stake in Iron Mountain in the fourth quarter worth $1,499,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

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.