Iron Mountain (NYSE:IRM) Updates FY 2020 Pre-Market Earnings Guidance

Iron Mountain (NYSE:IRM) issued an update on its FY 2020
Pre-Market earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.15-1.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.21. The company issued revenue guidance of $4.375-4.475 billion, compared to the consensus revenue estimate of $4.35 billion.

Shares of Iron Mountain stock traded down $0.22 during trading hours on Friday, hitting $33.14. The company’s stock had a trading volume of 2,938,722 shares, compared to its average volume of 2,864,204. Iron Mountain has a 1-year low of $29.28 and a 1-year high of $36.65. The business has a fifty day moving average of $31.51 and a 200 day moving average of $32.12. The company has a market capitalization of $9.18 billion, a PE ratio of 24.73, a P/E/G ratio of 2.44 and a beta of 0.53. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 6.51.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.32). The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.07 billion. Iron Mountain had a return on equity of 21.57% and a net margin of 9.14%. Iron Mountain’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 EPS. On average, sell-side analysts anticipate that Iron Mountain will post 2.27 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Monday, March 16th will be issued a dividend of $0.6185 per share. This represents a $2.47 dividend on an annualized basis and a yield of 7.47%. This is a positive change 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 (DPR) is presently 107.39%.

A number of research firms recently weighed in on IRM. Goldman Sachs Group reaffirmed a buy rating and set a $40.00 price target on shares of Iron Mountain in a report on Monday, January 27th. ValuEngine raised shares of Iron Mountain from a sell rating to a hold rating in a report on Tuesday, November 19th. Finally, Credit Suisse Group lowered their price target on shares of Iron Mountain from $21.00 to $18.00 and set an underperform rating for the company in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $31.37.

In other Iron Mountain news, Director Jennifer Allerton sold 5,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $32.96, for a total transaction of $164,800.00. Following the transaction, the director now directly owns 18,484 shares in the company, valued at approximately $609,232.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is currently owned by company insiders.

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.

See Also: Balance Sheet

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