Iron Mountain (IRM) Issues Earnings Results

Iron Mountain (NYSE:IRM) posted its quarterly earnings results on Thursday. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.01, MarketWatch Earnings reports. Iron Mountain had a return on equity of 14.71% and a net margin of 5.49%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Iron Mountain updated its FY 2018 guidance to $2.41-2.47 EPS.

Shares of NYSE IRM traded down $2.22 on Friday, hitting $30.48. The company had a trading volume of 5,514,018 shares, compared to its average volume of 2,160,442. Iron Mountain has a 12-month low of $30.22 and a 12-month high of $41.53. The company has a debt-to-equity ratio of 4.18, a current ratio of 0.97 and a quick ratio of 0.98. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 15.35 and a beta of 0.61.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Monday, December 17th will be given a $0.611 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Friday, December 14th. This represents a $2.44 annualized dividend and a dividend yield of 8.02%. Iron Mountain’s dividend payout ratio is presently 110.33%.

IRM has been the subject of a number of research reports. Stifel Nicolaus downgraded Iron Mountain from a “buy” rating to a “hold” rating and lowered their price target for the company from $39.00 to $34.00 in a research report on Friday. Zacks Investment Research raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. Barclays assumed coverage on Iron Mountain in a research report on Wednesday, July 18th. They issued an “equal weight” rating and a $39.00 target price for the company. Berenberg Bank assumed coverage on Iron Mountain in a research report on Thursday, September 20th. They issued a “buy” rating and a $52.00 target price for the company. Finally, ValuEngine raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $38.00.

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 over 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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