Iron Mountain (NYSE:IRM) Releases 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 (EPS) guidance of 1.15-1.25 for the period, compared to the Thomson Reuters consensus 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.

IRM stock traded down $0.22 during mid-day trading on Friday, reaching $33.14. The company had a trading volume of 2,938,722 shares, compared to its average volume of 2,864,204. The company has a debt-to-equity ratio of 6.51, a current ratio of 0.66 and a quick ratio of 0.66. The company 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. The firm has a 50 day moving average of $31.51 and a 200 day moving average of $32.12. Iron Mountain has a 12 month low of $29.28 and a 12 month high of $36.65.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.32). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $0.56 earnings per share. Analysts anticipate that Iron Mountain will post 2.27 EPS for the current year.

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

A number of research firms have recently issued reports on IRM. ValuEngine upgraded shares of Iron Mountain from a sell rating to a hold rating in a research note on Tuesday, November 19th. Credit Suisse Group dropped their price objective on shares of Iron Mountain from $21.00 to $18.00 and set an underperform rating on the stock in a research note on Tuesday, November 26th. Finally, Goldman Sachs Group reiterated a buy rating and set a $40.00 price objective on shares of Iron Mountain in a research note on Monday, January 27th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $31.37.

In other news, Director Jennifer Allerton sold 5,000 shares of the stock in a transaction that occurred 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 $609,232.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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.

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