Iron Mountain (NYSE:IRM) Updates FY24 Earnings Guidance

Iron Mountain (NYSE:IRM) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $4.39-4.51 for the period, compared to the consensus 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 NYSE:IRM traded up $2.79 during trading on Friday, hitting $119.71. 1,259,526 shares of the company’s stock traded hands, compared to its average volume of 1,609,220. The company has a 50-day moving average price of $119.08 and a 200-day moving average price of $101.28. Iron Mountain has a 52 week low of $58.55 and a 52 week high of $130.24. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The company has a market cap of $35.12 billion, a price-to-earnings ratio of 149.96, a price-to-earnings-growth ratio of 7.33 and a beta of 0.99.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be issued a $0.715 dividend. 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 (DPR) is presently 366.67%.

Analysts Set New Price Targets

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

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the sale, the director now directly owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. 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, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,637 shares of company stock valued at $3,210,575. 2.10% of the stock is owned by insiders.

Iron Mountain Company Profile

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.