Iron Mountain (NYSE:IRM) Posts Quarterly Earnings Results, Misses Estimates By $0.32 EPS

Iron Mountain (NYSE:IRM) announced its quarterly earnings data on Thursday. The financial services provider reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.32), Fidelity Earnings reports. Iron Mountain had a return on equity of 21.57% and a net margin of 9.14%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm posted $0.56 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. Iron Mountain updated its FY 2020
Pre-Market guidance to 1.15-1.25 EPS.

Shares of IRM stock traded down $0.33 on Friday, reaching $33.03. 869,066 shares of the company’s stock were exchanged, compared to its average volume of 2,861,628. The company’s fifty day simple moving average is $31.48 and its 200 day simple moving average is $32.10. Iron Mountain has a 52 week low of $29.28 and a 52 week high of $36.65. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 6.51. The stock has a market capitalization of $9.18 billion, a PE ratio of 24.65, a P/E/G ratio of 2.44 and a beta of 0.53.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Monday, March 16th will be issued a $0.6185 dividend. This represents a $2.47 annualized dividend and a dividend yield of 7.49%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, March 13th. Iron Mountain’s dividend payout ratio is presently 107.39%.

In other news, Director Jennifer Allerton sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $32.96, for a total value of $164,800.00. Following the completion of the sale, the director now owns 18,484 shares of the company’s stock, valued at approximately $609,232.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.90% of the company’s stock.

Several research firms have issued reports on IRM. Goldman Sachs Group restated a “buy” rating and issued a $40.00 price objective on shares of Iron Mountain in a research note on Monday, January 27th. Credit Suisse Group dropped their price objective on shares of Iron Mountain from $21.00 to $18.00 and set an “underperform” rating on the stock in a research note on Tuesday, November 26th. Finally, ValuEngine upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.37.

Iron Mountain Company Profile

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 85 million square feet across more than 1,400 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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Earnings History for Iron Mountain (NYSE:IRM)

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