Iron Mountain (NYSE:IRM) Releases FY22 Earnings Guidance

Iron Mountain (NYSE:IRMGet Rating) updated its FY22 earnings guidance on Thursday. The company provided earnings per share guidance of $3.70 to $3.82 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.08. The company issued revenue guidance of $5.125 billion to $5.275 billion, compared to the consensus revenue estimate of $5.17 billion.

Several research firms recently weighed in on IRM. Stifel Nicolaus lifted their price target on Iron Mountain from $52.00 to $62.00 and gave the stock a buy rating in a report on Tuesday, April 12th. StockNews.com started coverage on Iron Mountain in a research note on Thursday, March 31st. They set a hold rating on the stock. Finally, Credit Suisse Group raised their price objective on Iron Mountain from $18.00 to $20.00 and gave the stock an underperform rating in a research note on Friday, February 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Iron Mountain presently has an average rating of Hold and an average target price of $43.25.

Iron Mountain stock opened at $54.42 on Thursday. The stock’s fifty day moving average price is $52.18 and its two-hundred day moving average price is $48.71. Iron Mountain has a one year low of $38.56 and a one year high of $58.61. The company has a debt-to-equity ratio of 10.46, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $15.81 billion, a PE ratio of 35.11 and a beta of 0.85.

Iron Mountain (NYSE:IRMGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The financial services provider reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.28). Iron Mountain had a return on equity of 45.09% and a net margin of 10.02%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the business earned $0.66 EPS. Iron Mountain’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts expect that Iron Mountain will post 3.08 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 6th. Stockholders of record on Wednesday, June 15th will be paid a $0.6185 dividend. This represents a $2.47 annualized dividend and a dividend yield of 4.55%. Iron Mountain’s payout ratio is 159.36%.

In related news, CAO Daniel Borges sold 2,470 shares of the firm’s stock in a transaction on Friday, February 25th. The stock was sold at an average price of $46.52, for a total transaction of $114,904.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 58,024 shares of the firm’s stock in a transaction on Friday, February 25th. The shares were sold at an average price of $48.05, for a total value of $2,788,053.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,999 shares of company stock worth $6,015,205. Corporate insiders own 2.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRM. Vident Investment Advisory LLC lifted its holdings in Iron Mountain by 3.6% during the 4th quarter. Vident Investment Advisory LLC now owns 54,337 shares of the financial services provider’s stock worth $2,845,000 after buying an additional 1,902 shares during the period. Wealthsource Partners LLC acquired a new position in Iron Mountain during the 4th quarter worth about $209,000. NewEdge Advisors LLC lifted its holdings in Iron Mountain by 48.8% during the 4th quarter. NewEdge Advisors LLC now owns 43,787 shares of the financial services provider’s stock worth $2,291,000 after buying an additional 14,361 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Iron Mountain by 23.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,063,839 shares of the financial services provider’s stock worth $55,671,000 after buying an additional 199,337 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in Iron Mountain by 55.1% during the 4th quarter. Allianz Asset Management GmbH now owns 736,514 shares of the financial services provider’s stock worth $38,542,000 after buying an additional 261,705 shares during the period. 78.39% of the stock is currently owned by institutional investors.

About Iron Mountain (Get Rating)

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 90 million square feet across approximately 1,450 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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