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Iron Mountain (IRM) Gains But Lags Market: What You Should Know
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Iron Mountain (IRM - Free Report) closed at $48.49 in the latest trading session, marking a +1.02% move from the prior day. This move lagged the S&P 500's daily gain of 1.42%. Elsewhere, the Dow gained 0.97%, while the tech-heavy Nasdaq lost 0.07%.
Prior to today's trading, shares of the real estate investment trust had lost 1.42% over the past month. This has lagged the Finance sector's gain of 4.24% and the S&P 500's gain of 6.69% in that time.
Wall Street will be looking for positivity from Iron Mountain as it approaches its next earnings report date. This is expected to be August 4, 2022. On that day, Iron Mountain is projected to report earnings of $0.92 per share, which would represent year-over-year growth of 8.24%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.3 billion, up 15.99% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.78 per share and revenue of $5.2 billion. These totals would mark changes of +36.96% and +15.79%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Iron Mountain. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Iron Mountain currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Iron Mountain is holding a Forward P/E ratio of 12.71. Its industry sports an average Forward P/E of 13.66, so we one might conclude that Iron Mountain is trading at a discount comparatively.
It is also worth noting that IRM currently has a PEG ratio of 3.18. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.53 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Iron Mountain (IRM) Gains But Lags Market: What You Should Know
Iron Mountain (IRM - Free Report) closed at $48.49 in the latest trading session, marking a +1.02% move from the prior day. This move lagged the S&P 500's daily gain of 1.42%. Elsewhere, the Dow gained 0.97%, while the tech-heavy Nasdaq lost 0.07%.
Prior to today's trading, shares of the real estate investment trust had lost 1.42% over the past month. This has lagged the Finance sector's gain of 4.24% and the S&P 500's gain of 6.69% in that time.
Wall Street will be looking for positivity from Iron Mountain as it approaches its next earnings report date. This is expected to be August 4, 2022. On that day, Iron Mountain is projected to report earnings of $0.92 per share, which would represent year-over-year growth of 8.24%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.3 billion, up 15.99% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.78 per share and revenue of $5.2 billion. These totals would mark changes of +36.96% and +15.79%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Iron Mountain. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Iron Mountain currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Iron Mountain is holding a Forward P/E ratio of 12.71. Its industry sports an average Forward P/E of 13.66, so we one might conclude that Iron Mountain is trading at a discount comparatively.
It is also worth noting that IRM currently has a PEG ratio of 3.18. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.53 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.