Zacks Research Forecasts Lower Earnings for Iron Mountain

Key Points

• Zacks Research has downgraded its Q1 2027 earnings per share estimate for Iron Mountain to $1.15, down from the previous estimate of $1.16, while the full-year earnings consensus stands at $4.54 per share.
• Iron Mountain's latest earnings report showed a EPS of $1.24, surpassing analysts' expectations by $0.05, with significant revenue growth of 11.6% year-over-year.
• Despite reporting strong earnings, Iron Mountain's stock is down 23% from its 1-year high, and recent analyst ratings reflect a mixed outlook, including a price target ranging from $100.00 to $122.00.

Iron Mountain Incorporated (NYSE:IRM - Free Report) - Zacks Research decreased their Q1 2027 earnings per share estimates for shares of Iron Mountain in a research note issued to investors on Tuesday, October 7th. Zacks Research analyst Team now expects that the financial services provider will earn $1.15 per share for the quarter, down from their prior estimate of $1.16. The consensus estimate for Iron Mountain's current full-year earnings is $4.54 per share. Zacks Research also issued estimates for Iron Mountain's Q3 2027 earnings at $1.41 EPS.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the prior year, the firm earned $1.08 earnings per share. The business's revenue was up 11.6% compared to the same quarter last year.

Other equities analysts have also recently issued research reports about the company. Barclays increased their target price on Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Weiss Ratings restated a "hold (c)" rating on shares of Iron Mountain in a research report on Wednesday. Finally, Jefferies Financial Group began coverage on Iron Mountain in a research report on Monday, September 22nd. They issued a "buy" rating and a $120.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Iron Mountain has an average rating of "Buy" and an average target price of $116.83.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $105.62 on Thursday. The business has a 50 day simple moving average of $96.18 and a two-hundred day simple moving average of $95.18. Iron Mountain has a 12 month low of $72.33 and a 12 month high of $130.24. The stock has a market capitalization of $31.19 billion, a P/E ratio of 754.48 and a beta of 1.06.

Institutional Trading of Iron Mountain

Several hedge funds have recently modified their holdings of IRM. Financial Network Wealth Advisors LLC acquired a new stake in shares of Iron Mountain in the first quarter valued at $26,000. Golden State Wealth Management LLC acquired a new stake in shares of Iron Mountain in the first quarter valued at $30,000. Ramirez Asset Management Inc. acquired a new stake in shares of Iron Mountain in the first quarter valued at $34,000. Wayfinding Financial LLC acquired a new stake in shares of Iron Mountain in the first quarter valued at $37,000. Finally, Crewe Advisors LLC raised its stake in shares of Iron Mountain by 10,000.0% in the first quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 500 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total transaction of $7,074,252.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $94.55, for a total value of $6,535,768.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 213,375 shares of company stock worth $20,347,156. Company insiders own 1.90% of the company's stock.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were given a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, September 15th. Iron Mountain's dividend payout ratio is presently 2,242.86%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.