Zacks Research Cuts Earnings Estimates for Iron Mountain

Iron Mountain Incorporated (NYSE:IRM - Free Report) - Research analysts at Zacks Research dropped their Q4 2026 EPS estimates for Iron Mountain in a report issued on Monday, April 28th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings of $1.33 per share for the quarter, down from their previous estimate of $1.34. The consensus estimate for Iron Mountain's current full-year earnings is $4.54 per share.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company lowered their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. JPMorgan Chase & Co. reduced their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Truist Financial initiated coverage on Iron Mountain in a research report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective for the company. Finally, Barclays cut their target price on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $121.29.

Iron Mountain Trading Up 4.1 %

Shares of IRM stock traded up $3.78 during trading hours on Wednesday, hitting $95.63. 2,497,499 shares of the company's stock were exchanged, compared to its average volume of 1,840,649. The company has a market capitalization of $28.21 billion, a PE ratio of 156.76, a PEG ratio of 5.15 and a beta of 0.97. Iron Mountain has a 12-month low of $72.33 and a 12-month high of $130.24. The business's 50 day simple moving average is $85.93 and its 200-day simple moving average is $102.25.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. The firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.10 EPS.

Institutional Trading of Iron Mountain

Hedge funds have recently modified their holdings of the business. Key Financial Inc boosted its stake in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after acquiring an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Iron Mountain in the 4th quarter worth approximately $26,000. IMG Wealth Management Inc. purchased a new stake in shares of Iron Mountain in the 4th quarter worth approximately $26,000. Cranbrook Wealth Management LLC bought a new position in Iron Mountain during the 1st quarter valued at approximately $26,000. Finally, Golden State Wealth Management LLC purchased a new position in Iron Mountain during the first quarter valued at $30,000. Institutional investors own 80.13% of the company's stock.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total value of $5,952,353.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the sale, the chief accounting officer now directly owns 288 shares in the company, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 318,973 shares of company stock worth $29,370,872. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's payout ratio is currently 514.75%.

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.