Iron Mountain Inc (NYSE:IRM) – Analysts at Mitsubishi UFJ Financial Group raised their FY2018 earnings per share (EPS) estimates for shares of Iron Mountain in a research report issued on Tuesday, October 16th. Mitsubishi UFJ Financial Group analyst K. Ford now forecasts that the financial services provider will earn $2.14 per share for the year, up from their prior estimate of $2.12.
Several other analysts have also recently weighed in on IRM. Zacks Investment Research cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Barclays began coverage on shares of Iron Mountain in a report on Wednesday, July 18th. They issued an “equal weight” rating and a $39.00 price target on the stock. ValuEngine cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Credit Suisse Group began coverage on shares of Iron Mountain in a report on Friday, August 10th. They issued an “underperform” rating and a $25.00 price target on the stock. Finally, Berenberg Bank began coverage on shares of Iron Mountain in a report on Thursday, September 20th. They issued a “buy” rating and a $52.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $39.43.
Iron Mountain (NYSE:IRM) last issued its earnings results on Friday, July 27th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.03. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Iron Mountain had a net margin of 4.56% and a return on equity of 14.82%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business earned $0.30 earnings per share.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Monday, September 17th were issued a $0.5875 dividend. This represents a $2.35 annualized dividend and a yield of 7.30%. The ex-dividend date of this dividend was Friday, September 14th. Iron Mountain’s dividend payout ratio (DPR) is currently 110.33%.
In related news, CFO Stuart B. Brown sold 1,750 shares of Iron Mountain stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $35.38, for a total value of $61,915.00. Following the sale, the chief financial officer now owns 7,661 shares in the company, valued at $271,046.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in IRM. Hexavest Inc. bought a new stake in shares of Iron Mountain during the 2nd quarter valued at $33,871,000. Millennium Management LLC bought a new stake in shares of Iron Mountain during the 1st quarter valued at $21,996,000. Chicago Capital LLC boosted its holdings in shares of Iron Mountain by 121.8% during the 2nd quarter. Chicago Capital LLC now owns 777,165 shares of the financial services provider’s stock valued at $27,209,000 after buying an additional 426,848 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings in shares of Iron Mountain by 21.7% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,787,952 shares of the financial services provider’s stock valued at $62,596,000 after buying an additional 319,006 shares in the last quarter. Finally, Summit Global Investments bought a new stake in shares of Iron Mountain during the 2nd quarter valued at $5,579,000. Hedge funds and other institutional investors own 86.25% of the company’s stock.
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 over 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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