#4 - Iron Mountain (NYSE:IRM)
Iron Mountain, Inc. (NYSE: IRM) is in the business of providing storage and information management solutions. This includes both digital and traditional paper documents. The company reported 37% year-on-year growth in data center bookings.
However, although we may live in an increasingly paperless world, paper documents aren’t completely going away. In fact, the threat of cyber threats makes it imperative that large enterprises maintain a paper copy of sensitive documents.
Paper document management and shredding isn’t a high-margin business. Nevertheless, according to Iron Mountain, over 70% of an organization’s business practices are managed on paper.
That should be enough to support the company's expected earnings growth of 6.9% in 2023. It should also support analysts’ expectations for earnings growth of approximately 10% over the next five years. And the company has a dividend with a yield of 4.52%.
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.
- Current Price
- $119.10
- Consensus Rating
- Buy
- Ratings Breakdown
- 6 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $129.40 (8.6% Upside)
