FY2027 EPS Estimates for Iron Mountain Cut by Zacks Research

Iron Mountain Incorporated (NYSE:IRM) – Equities researchers at Zacks Research decreased their FY2027 earnings estimates for shares of Iron Mountain in a research report issued to clients and investors on Thursday, March 27th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings per share of $5.60 for the year, down from their prior forecast of $5.71. The consensus estimate for Iron Mountain’s current full-year earnings is $4.54 per share.

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

Iron Mountain Stock Up 1.2 %

NYSE IRM opened at $86.14 on Monday. The company has a market capitalization of $25.30 billion, a price-to-earnings ratio of 141.21, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain has a twelve month low of $73.53 and a twelve month high of $130.24. The stock has a fifty day simple moving average of $94.51 and a 200 day simple moving average of $108.10.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter last year, the company posted $0.52 earnings per share.

Hedge Funds Weigh In On Iron Mountain

A number of institutional investors have recently modified their holdings of IRM. Dynamic Technology Lab Private Ltd bought a new stake in Iron Mountain during the 3rd quarter valued at $271,000. The Manufacturers Life Insurance Company increased its position in shares of Iron Mountain by 2.0% during the third quarter. The Manufacturers Life Insurance Company now owns 209,648 shares of the financial services provider’s stock worth $24,912,000 after acquiring an additional 4,150 shares in the last quarter. Townsquare Capital LLC raised its holdings in shares of Iron Mountain by 72.9% in the 3rd quarter. Townsquare Capital LLC now owns 10,129 shares of the financial services provider’s stock worth $1,204,000 after acquiring an additional 4,271 shares during the last quarter. CreativeOne Wealth LLC bought a new position in Iron Mountain in the 3rd quarter valued at about $358,000. Finally, Public Sector Pension Investment Board boosted its stake in Iron Mountain by 25.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 51,128 shares of the financial services provider’s stock valued at $6,076,000 after purchasing an additional 10,410 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 SEC, which is available through the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 318,979 shares of company stock valued at $30,666,904 in the last quarter. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.65%. Iron Mountain’s payout ratio 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.