Zacks Research Forecasts Lower Earnings for Iron Mountain

Iron Mountain Incorporated (NYSE:IRM) – Stock analysts at Zacks Research reduced their FY2027 earnings per share estimates for Iron Mountain in a report issued on Thursday, March 27th. Zacks Research analyst R. Department now expects that the financial services provider will earn $5.60 per share for the year, down from their previous estimate of $5.71. The consensus estimate for Iron Mountain’s current full-year earnings is $4.54 per share.

Several other research firms have also issued reports on IRM. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, Barclays reduced their price target on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $125.67.

Iron Mountain Stock Up 1.0 %

NYSE IRM opened at $86.93 on Monday. The company has a market cap of $25.53 billion, a PE ratio of 142.50, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain has a 52 week low of $73.53 and a 52 week high of $130.24. The firm’s 50-day simple moving average is $94.03 and its two-hundred day simple moving average is $107.88.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the company earned $0.52 EPS.

Hedge Funds Weigh In On Iron Mountain

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Iron Mountain by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock worth $978,479,000 after buying an additional 128,622 shares during the last quarter. Wealthfront Advisers LLC raised its stake in shares of Iron Mountain by 9,843.3% during the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after acquiring an additional 6,795,792 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Iron Mountain by 56.1% in the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider’s stock worth $454,756,000 after acquiring an additional 1,554,746 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Iron Mountain by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider’s stock valued at $443,476,000 after purchasing an additional 15,097 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Iron Mountain by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider’s stock valued at $365,656,000 after purchasing an additional 92,475 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 172,552 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the transaction, the chief executive officer now directly owns 237,402 shares in the company, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 318,979 shares of company stock valued at $30,666,904. Company insiders own 2.10% of the company’s stock.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

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.