Iron Mountain (NYSE:IRM) Announces Earnings Results

Iron Mountain (NYSE:IRM - Get Free Report) announced its quarterly earnings results on Thursday. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70), RTT News reports. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the business earned $0.52 EPS. Iron Mountain updated its FY 2025 guidance to EPS.

Iron Mountain Trading Down 1.6 %

IRM stock traded down $1.52 during mid-day trading on Wednesday, hitting $92.69. The stock had a trading volume of 4,867,890 shares, compared to its average volume of 2,057,822. The firm has a fifty day simple moving average of $104.30 and a 200 day simple moving average of $112.52. The firm has a market capitalization of $27.20 billion, a P/E ratio of 151.96, a P/E/G ratio of 5.25 and a beta of 1.01. Iron Mountain has a 52 week low of $67.09 and a 52 week high of $130.24.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a dividend of $0.785 per share. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.39%. Iron Mountain's dividend payout ratio is currently 468.85%.

Wall Street Analysts Forecast Growth

IRM has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday. StockNews.com downgraded Iron Mountain from a "hold" rating to a "sell" rating in a research report on Tuesday, January 28th. Barclays dropped their price target on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Wells Fargo & Company decreased 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. Finally, BNP Paribas raised Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.67.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 69,131 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 162,391 shares of company stock valued at $16,805,912. Company insiders own 2.10% of the company's stock.

About Iron Mountain

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.