S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68

Iron Mountain Incorporated (NYSE:IRM) Expected to Post Quarterly Sales of $1.30 Billion

Last updated on Saturday, May 14, 2022 | 2022 MarketBeat

Wall Street brokerages predict that Iron Mountain Incorporated (NYSE:IRM - Get Rating) will report $1.30 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Iron Mountain's earnings, with the highest sales estimate coming in at $1.32 billion and the lowest estimate coming in at $1.29 billion. Iron Mountain reported sales of $1.12 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 16.1%. The company is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that Iron Mountain will report full-year sales of $5.21 billion for the current fiscal year, with estimates ranging from $5.18 billion to $5.22 billion. For the next financial year, analysts expect that the company will report sales of $5.47 billion, with estimates ranging from $5.34 billion to $5.58 billion. Zacks' sales calculations are a mean average based on a survey of analysts that that provide coverage for Iron Mountain.

Iron Mountain (NYSE:IRM - Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.32). Iron Mountain had a return on equity of 49.70% and a net margin of 9.59%. The company had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.24 billion. During the same period in the prior year, the business posted $0.81 EPS. The company's revenue for the quarter was up 15.3% compared to the same quarter last year.

Several analysts have issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Iron Mountain from $52.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, April 12th. Credit Suisse Group upped their price target on shares of Iron Mountain from $18.00 to $20.00 and gave the stock an "underperform" rating in a research note on Friday, February 25th. Finally, StockNews.com initiated coverage on shares of Iron Mountain in a research note on Thursday, March 31st. They issued a "hold" rating on the stock.

In other news, COO John Tomovcsik sold 6,218 shares of Iron Mountain stock in a transaction on Thursday, April 14th. The shares were sold at an average price of $56.11, for a total transaction of $348,891.98. Following the transaction, the chief operating officer now directly owns 56,000 shares of the company's stock, valued at $3,142,160. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 58,024 shares of Iron Mountain stock in a transaction on Friday, February 25th. The stock was sold at an average price of $48.05, for a total transaction of $2,788,053.20. The disclosure for this sale can be found here. Insiders sold 118,999 shares of company stock valued at $6,015,205 in the last three months. Company insiders own 2.10% of the company's stock.

Several hedge funds have recently made changes to their positions in IRM. GHP Investment Advisors Inc. acquired a new position in Iron Mountain in the 1st quarter valued at approximately $26,000. Corbenic Partners LLC purchased a new stake in shares of Iron Mountain in the fourth quarter valued at about $27,000. SJS Investment Consulting Inc. purchased a new stake in shares of Iron Mountain in the first quarter valued at about $28,000. Hazlett Burt & Watson Inc. purchased a new stake in Iron Mountain during the first quarter worth about $28,000. Finally, Lloyd Advisory Services LLC. purchased a new position in shares of Iron Mountain in the first quarter worth about $32,000. 78.62% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:IRM opened at $52.33 on Friday. The company's fifty day moving average is $53.50 and its two-hundred day moving average is $49.38. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 13.37. Iron Mountain has a 12-month low of $41.67 and a 12-month high of $58.61. The company has a market cap of $15.21 billion, a P/E ratio of 34.20 and a beta of 0.82.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 16th. Investors of record on Wednesday, June 15th will be given a $0.618 dividend. This represents a $2.47 annualized dividend and a yield of 4.72%. The ex-dividend date is Tuesday, June 14th. Iron Mountain's dividend payout ratio (DPR) is presently 161.44%.

About Iron Mountain (Get Rating)

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 90 million square feet across approximately 1,450 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

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