Iron Mountain (NYSE:IRM) Updates FY24 Earnings Guidance

Iron Mountain (NYSE:IRM) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $4.39-4.51 for the period, compared to the consensus EPS estimate of $4.44. The company issued revenue guidance of $6.00-6.15 billion, compared to the consensus revenue estimate of $6.07 billion.

Iron Mountain Stock Performance

IRM traded down $1.68 during trading on Friday, reaching $75.32. The company’s stock had a trading volume of 1,976,983 shares, compared to its average volume of 1,240,763. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.78 and a current ratio of 0.86. The company’s fifty day moving average price is $78.13 and its 200-day moving average price is $69.92. Iron Mountain has a 52-week low of $52.81 and a 52-week high of $82.19. The company has a market capitalization of $22.08 billion, a price-to-earnings ratio of 114.12, a price-to-earnings-growth ratio of 4.51 and a beta of 0.96.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.48). The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Iron Mountain had a return on equity of 282.93% and a net margin of 5.45%. Iron Mountain’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. On average, equities analysts forecast that Iron Mountain will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.45%. The ex-dividend date is Monday, June 17th. Iron Mountain’s payout ratio is 393.95%.

Analyst Ratings Changes

A number of research firms have recently issued reports on IRM. TheStreet lowered Iron Mountain from a b rating to a c rating in a research note on Thursday, February 22nd. Barclays increased their price target on Iron Mountain from $79.00 to $91.00 and gave the stock an overweight rating in a research report on Tuesday, March 5th. Stifel Nicolaus boosted their price objective on Iron Mountain from $65.00 to $76.00 and gave the stock a buy rating in a research report on Tuesday, January 23rd. Finally, Wells Fargo & Company upped their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an overweight rating in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $73.80.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $68.24, for a total transaction of $1,083,310.00. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $20,175,156. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $1,083,310.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $20,175,156. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah Marson sold 2,000 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $78.48, for a total value of $156,960.00. Following the sale, the executive vice president now owns 65,286 shares in the company, valued at $5,123,645.28. The disclosure for this sale can be found here. Insiders sold a total of 162,124 shares of company stock worth $12,563,361 over the last three months. 2.10% of the stock is currently owned by insiders.

About Iron Mountain

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.