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 IRM stock traded down $0.22 during mid-day trading on Friday, reaching $33.14. 2,938,722 shares of the company’s stock traded hands, compared to its average volume of 2,864,204. Iron Mountain has a 12 month low of $29.28 and a 12 month high of $36.65. The firm has a 50 day moving average price of $31.51 and a two-hundred day moving average price of $32.12. The company has a debt-to-equity ratio of 6.51, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $9.18 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 2.44 and a beta of 0.53.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Monday, March 16th will be given a dividend of $0.6185 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, March 13th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 7.47%. Iron Mountain’s payout ratio is presently 107.39%.

A number of equities research analysts have recently issued reports on IRM shares. ValuEngine raised shares of Iron Mountain from a sell rating to a hold rating in a research report on Tuesday, November 19th. Credit Suisse Group cut their price objective on shares of Iron Mountain from $21.00 to $18.00 and set an underperform rating for the company in a research report on Tuesday, November 26th. Finally, Goldman Sachs Group reissued a buy rating and set a $40.00 price objective on shares of Iron Mountain in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock presently 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 business’s stock in a transaction 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 sale, the director now owns 18,484 shares in the company, valued at approximately $609,232.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% 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 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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