Brokerages predict that Iron Mountain Inc (NYSE:IRM) will announce $1.04 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Iron Mountain’s earnings, with the lowest sales estimate coming in at $1.03 billion and the highest estimate coming in at $1.08 billion. Iron Mountain reported sales of $965.66 million during the same quarter last year, which indicates a positive year over year growth rate of 7.7%. The firm is expected to report its next earnings report on Tuesday, October 23rd.

On average, analysts expect that Iron Mountain will report full-year sales of $4.19 billion for the current fiscal year, with estimates ranging from $4.16 billion to $4.20 billion. For the next year, analysts expect that the business will report sales of $4.36 billion, with estimates ranging from $4.22 billion to $4.50 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Iron Mountain.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.03. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Iron Mountain had a net margin of 4.56% and a return on equity of 14.82%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS.

Several brokerages have weighed in on IRM. Zacks Investment Research raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. Barclays began coverage on Iron Mountain in a report on Wednesday, July 18th. They set an “equal weight” rating and a $39.00 price objective for the company. Berenberg Bank began coverage on Iron Mountain in a report on Thursday, September 20th. They set a “buy” rating and a $52.00 price objective for the company. TheStreet raised Iron Mountain from a “c+” rating to a “b-” rating in a report on Wednesday, June 20th. Finally, Credit Suisse Group began coverage on Iron Mountain in a report on Friday, August 10th. They set an “underperform” rating and a $25.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $40.25.

In other news, CFO Stuart B. Brown sold 1,750 shares of the company’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $35.38, for a total value of $61,915.00. Following the completion of the sale, the chief financial officer now directly owns 7,661 shares of the company’s stock, valued at approximately $271,046.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Walter C. Rakowich sold 1,765 shares of the company’s stock in a transaction dated Tuesday, July 3rd. The shares were sold at an average price of $34.95, for a total value of $61,686.75. Following the completion of the sale, the director now directly owns 20,324 shares of the company’s stock, valued at $710,323.80. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Iron Mountain by 2.1% in the 1st quarter. BlackRock Inc. now owns 20,439,966 shares of the financial services provider’s stock valued at $671,656,000 after acquiring an additional 423,622 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Iron Mountain by 123.0% in the 1st quarter. JPMorgan Chase & Co. now owns 6,708,592 shares of the financial services provider’s stock valued at $220,444,000 after purchasing an additional 3,700,599 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Iron Mountain by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,023,813 shares of the financial services provider’s stock valued at $140,871,000 after purchasing an additional 99,620 shares during the period. River Road Asset Management LLC grew its position in shares of Iron Mountain by 4.3% in the 2nd quarter. River Road Asset Management LLC now owns 2,665,354 shares of the financial services provider’s stock valued at $93,314,000 after purchasing an additional 111,077 shares during the period. Finally, Raymond James & Associates grew its position in shares of Iron Mountain by 4.4% in the 2nd quarter. Raymond James & Associates now owns 2,468,404 shares of the financial services provider’s stock valued at $86,419,000 after purchasing an additional 105,108 shares during the period. 86.03% of the stock is owned by institutional investors.

NYSE IRM traded down $0.22 on Friday, hitting $34.09. 1,188,400 shares of the company were exchanged, compared to its average volume of 1,766,562. The company has a market cap of $9.93 billion, a price-to-earnings ratio of 16.07 and a beta of 0.62. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 3.87. Iron Mountain has a 1-year low of $30.78 and a 1-year high of $41.53.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 2nd. Shareholders of record on Monday, September 17th will be issued a dividend of $0.5875 per share. The ex-dividend date of this dividend is Friday, September 14th. This represents a $2.35 annualized dividend and a yield of 6.89%. Iron Mountain’s dividend payout ratio is currently 110.33%.

Iron Mountain Company Profile

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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