Iron Mountain (NYSE:IRM) Announces Earnings Results, Misses Expectations By $0.70 EPS

Iron Mountain (NYSE:IRM - Get Free Report) released its quarterly earnings data 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 company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the business earned $0.52 EPS. Iron Mountain updated its FY 2025 guidance to EPS.

Iron Mountain Price Performance

Iron Mountain stock traded down $1.52 during trading hours on Wednesday, reaching $92.69. The stock had a trading volume of 4,867,890 shares, compared to its average volume of 2,057,822. The company has a market cap of $27.20 billion, a price-to-earnings ratio of 151.96, a PEG ratio of 5.25 and a beta of 1.01. The business's 50 day moving average price is $104.30 and its 200-day moving average price is $112.52. 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 announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.39%. Iron Mountain's payout ratio is currently 468.85%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IRM. BNP Paribas upgraded shares of Iron Mountain to a "strong-buy" rating in a research report on Wednesday, November 6th. Barclays lowered their target price on shares of Iron Mountain from $131.00 to $130.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Royal Bank of Canada boosted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research note on Wednesday, November 27th. Wells Fargo & Company decreased their price objective on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. decreased their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday. One 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 company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $127.67.

Insiders Place Their Bets

In other news, EVP Mithu Bhargava sold 8,263 shares of the company's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 162,391 shares of company stock worth $16,805,912. 2.10% of the stock is owned by corporate insiders.

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.