Iron Mountain (IRM) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Iron Mountain (NYSE:IRM) issued its earnings results on Thursday. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01, MarketWatch Earnings reports. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Iron Mountain had a net margin of 4.78% and a return on equity of 15.40%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS.

Iron Mountain stock opened at $34.33 on Friday. Iron Mountain has a fifty-two week low of $30.78 and a fifty-two week high of $41.53. The company has a market cap of $9,632.12, a P/E ratio of 16.12 and a beta of 0.82. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.47 and a current ratio of 1.47.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th were paid a $0.5875 dividend. This represents a $2.35 annualized dividend and a dividend yield of 6.85%. The ex-dividend date was Wednesday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 110.33%.

IRM has been the topic of several recent research reports. Goldman Sachs initiated coverage on shares of Iron Mountain in a research note on Tuesday, March 27th. They issued a “buy” rating and a $41.00 target price on the stock. Stifel Nicolaus reduced their target price on shares of Iron Mountain from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Finally, Zacks Investment Research raised shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $39.33.

In related news, insider William L. Meaney sold 24,137 shares of Iron Mountain stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.08, for a total transaction of $774,314.96. Following the transaction, the insider now owns 93,587 shares of the company’s stock, valued at approximately $3,002,270.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alfred J. Verrecchia acquired 5,000 shares of Iron Mountain stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average cost of $32.49 per share, for a total transaction of $162,450.00. The disclosure for this purchase can be found here. Insiders have sold a total of 27,281 shares of company stock worth $877,892 in the last three months. 1.50% of the stock is owned by insiders.

About Iron Mountain

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 over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

Earnings History for Iron Mountain (NYSE:IRM)

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