Iron Mountain (NYSE:IRM) Announces Earnings Results

Iron Mountain (NYSE:IRM) issued its quarterly earnings data on Thursday. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70), RTT News reports. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 1.77% and a negative return on equity of 44,660.04%. During the same quarter in the prior year, the business earned $0.52 earnings per share. Iron Mountain updated its FY 2025 guidance to EPS.

Iron Mountain Stock Performance

IRM stock traded up $0.09 during mid-day trading on Friday, hitting $95.34. The company had a trading volume of 2,521,271 shares, compared to its average volume of 1,704,216. The stock’s fifty day moving average price is $105.45 and its two-hundred day moving average price is $112.70. Iron Mountain has a 12 month low of $67.09 and a 12 month high of $130.24. The firm has a market cap of $27.98 billion, a PE ratio of 264.85, a price-to-earnings-growth ratio of 5.84 and a beta of 1.01.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given a $0.785 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.29%. Iron Mountain’s payout ratio is currently 794.47%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on IRM shares. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays reduced their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada lifted their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company cut their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.17.

Insider Activity

In other news, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 162,391 shares of company stock valued at $16,805,912 over the last quarter. Company insiders own 2.10% of the company’s stock.

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.