Iron Mountain (NYSE:IRM) Issues FY24 Earnings Guidance

Iron Mountain (NYSE:IRM) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $4.39-4.51 for the period, compared to the consensus EPS estimate of $4.49. The company issued revenue guidance of $6.00-6.15 billion, compared to the consensus revenue estimate of $6.14 billion. Iron Mountain also updated its FY 2024 guidance to EPS.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IRM. JPMorgan Chase & Co. raised their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group lifted their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus lifted their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Barclays lifted their price target on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and an average target price of $115.50.

Iron Mountain Price Performance

Shares of IRM opened at $125.73 on Wednesday. Iron Mountain has a 1 year low of $58.55 and a 1 year high of $130.24. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $36.88 billion, a price-to-earnings ratio of 161.19, a price-to-earnings-growth ratio of 7.26 and a beta of 0.99. The business has a 50-day moving average of $118.93 and a 200-day moving average of $101.08.

Insiders Place Their Bets

In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares in the company, valued at approximately $993,127.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at $993,127.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,637 shares of company stock worth $3,210,575. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Company Profile

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.