Iron Mountain (NYSE:IRM) Updates FY24 Earnings Guidance

Iron Mountain (NYSE:IRM) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $4.39-4.51 for the period, compared to the consensus EPS estimate of $4.49. The company issued revenue guidance of $6.00-6.15 billion, compared to the consensus revenue estimate of $6.14 billion. Iron Mountain also updated its FY 2024 guidance to EPS.

Iron Mountain Stock Up 2.4 %

Shares of IRM traded up $2.79 on Friday, hitting $119.71. The company’s stock had a trading volume of 1,260,338 shares, compared to its average volume of 1,609,224. The firm’s fifty day moving average price is $119.08 and its 200-day moving average price is $101.28. Iron Mountain has a fifty-two week low of $58.55 and a fifty-two week high of $130.24. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The firm has a market capitalization of $35.12 billion, a price-to-earnings ratio of 149.96, a P/E/G ratio of 7.33 and a beta of 0.99.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, December 16th. Iron Mountain’s dividend payout ratio is 366.67%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IRM. Stifel Nicolaus upped their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Wells Fargo & Company increased their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Barclays boosted their target price on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group raised their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $129.80.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the transaction, the chief operating officer now owns 14,000 shares of the company’s stock, valued at $1,540,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,637 shares of company stock valued at $3,210,575. 2.10% of the stock is owned by corporate 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.