Iron Mountain (NYSE:IRM) Issues FY24 Earnings Guidance

Iron Mountain (NYSE:IRM - Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $4.39-4.51 for the period, compared to the consensus EPS estimate of $4.49. The company issued revenue guidance of $6.00-6.15 billion, compared to the consensus revenue estimate of $6.14 billion. Iron Mountain also updated its FY 2024 guidance to EPS.

Iron Mountain Stock Down 9.0 %

Shares of IRM stock traded down $11.29 during trading hours on Wednesday, reaching $114.44. The company had a trading volume of 4,447,356 shares, compared to its average volume of 1,607,730. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. Iron Mountain has a twelve month low of $58.55 and a twelve month high of $130.24. The company has a market capitalization of $33.57 billion, a P/E ratio of 161.19, a price-to-earnings-growth ratio of 7.26 and a beta of 0.99. The stock's fifty day simple moving average is $118.93 and its 200 day simple moving average is $101.08.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Stifel Nicolaus raised their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, September 23rd. Wells Fargo & Company raised their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. The Goldman Sachs Group raised their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Finally, Barclays raised their price objective on Iron Mountain from $91.00 to $133.00 and gave the company an "overweight" rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, Iron Mountain has an average rating of "Moderate Buy" and a consensus price target of $115.50.

Insider Buying and Selling

In related news, EVP Edward Baker-Greene sold 2,262 shares of the firm's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares of the company's stock, valued at approximately $993,127.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO John Tomovcsik sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the sale, the chief operating officer now owns 14,000 shares of the company's stock, valued at approximately $1,540,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the sale, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,637 shares of company stock valued at $3,210,575. Insiders own 2.10% of the company's stock.

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.