Iron Mountain Inc (NYSE:IRM) announced a quarterly dividend on Thursday, February 13th, RTT News reports. Investors of record on Monday, March 16th will be given a dividend of 0.6185 per share by the financial services provider on Monday, April 6th. This represents a $2.47 dividend on an annualized basis and a yield of 7.42%. The ex-dividend date is Friday, March 13th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.61.
Iron Mountain has raised its dividend by an average of 3.4% per year over the last three years and has raised its dividend every year for the last 10 years. Iron Mountain has a payout ratio of 200.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Iron Mountain to earn $2.45 per share next year, which means the company may not be able to cover its $2.47 annual dividend with an expected future payout ratio of 100.8%.
NYSE IRM opened at $33.36 on Friday. The business has a 50 day simple moving average of $31.48 and a 200 day simple moving average of $32.10. Iron Mountain has a 52-week low of $29.28 and a 52-week high of $36.65. 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 stock has a market cap of $9.18 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 2.44 and a beta of 0.53.
Iron Mountain (NYSE:IRM) last posted its earnings results 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 return on equity of 21.57% and a net margin of 9.14%. 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 company posted $0.56 earnings per share. Iron Mountain’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts predict that Iron Mountain will post 2.27 EPS for the current year.
Several equities analysts have recently weighed in on IRM shares. Credit Suisse Group decreased their price target on shares of Iron Mountain from $21.00 to $18.00 and set an “underperform” rating for the company in a research note on Tuesday, November 26th. ValuEngine raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $40.00 price target 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 issued a hold rating and two have assigned a buy rating to the company. The stock 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 firm’s 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 completion of the transaction, the director now directly owns 18,484 shares of the company’s stock, valued at approximately $609,232.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by company 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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