Iron Mountain Incorporated (IRM) To Go Ex-Dividend on September 16th

Iron Mountain Incorporated (NYSE:IRM) declared a quarterly dividend on Thursday, August 1st, RTT News reports. Investors of record on Monday, September 16th will be given a dividend of 0.715 per share by the financial services provider on Thursday, October 3rd. This represents a $2.86 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65.

Iron Mountain has raised its dividend payment by an average of 0.8% annually over the last three years. Iron Mountain has a dividend payout ratio of 134.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Iron Mountain to earn $4.53 per share next year, which means the company should continue to be able to cover its $2.86 annual dividend with an expected future payout ratio of 63.1%.

Iron Mountain Price Performance

Shares of IRM opened at $117.06 on Friday. The stock has a market cap of $34.31 billion, a P/E ratio of 177.36, a P/E/G ratio of 6.85 and a beta of 1.00. The business’s fifty day moving average is $106.10 and its 200 day moving average is $89.82. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain has a 12-month low of $56.51 and a 12-month high of $117.83.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the business posted $0.94 EPS. Iron Mountain’s revenue was up 13.0% compared to the same quarter last year. Sell-side analysts anticipate that Iron Mountain will post 4.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IRM. Wells Fargo & Company upped their target price on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group boosted their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus raised their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and an average target price of $99.83.

Insider Activity at Iron Mountain

In related news, CAO Daniel Borges sold 3,095 shares of Iron Mountain stock in a transaction on Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Daniel Borges sold 3,095 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $86.83, for a total value of $268,738.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward Baker-Greene sold 6,200 shares of Iron Mountain stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $88.35, for a total value of $547,770.00. Following the sale, the executive vice president now directly owns 11,311 shares of the company’s stock, valued at approximately $999,326.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,882 shares of company stock valued at $6,293,740. Corporate 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.