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Iron Mountain (IRM) Stock Moves -0.77%: What You Should Know
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Iron Mountain (IRM - Free Report) closed the latest trading day at $76.02, indicating a -0.77% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 1.46%. Elsewhere, the Dow lost 1.24%, while the tech-heavy Nasdaq lost 1.63%.
Heading into today, shares of the real estate investment trust had lost 1.85% over the past month, outpacing the Finance sector's loss of 3.74% and lagging the S&P 500's gain of 1.6% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Iron Mountain in its upcoming earnings disclosure. The company's earnings report is set to go public on May 2, 2024. The company is expected to report EPS of $1.05, up 8.25% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $1.46 billion, indicating a 11.29% increase compared to the same quarter of the previous year.
IRM's full-year Zacks Consensus Estimates are calling for earnings of $4.42 per share and revenue of $6.08 billion. These results would represent year-over-year changes of +7.28% and +10.86%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Iron Mountain. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Iron Mountain holds a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Iron Mountain is currently being traded at a Forward P/E ratio of 17.35. This represents a premium compared to its industry's average Forward P/E of 11.06.
Investors should also note that IRM has a PEG ratio of 4.34 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.21 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 97, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Iron Mountain (IRM) Stock Moves -0.77%: What You Should Know
Iron Mountain (IRM - Free Report) closed the latest trading day at $76.02, indicating a -0.77% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 1.46%. Elsewhere, the Dow lost 1.24%, while the tech-heavy Nasdaq lost 1.63%.
Heading into today, shares of the real estate investment trust had lost 1.85% over the past month, outpacing the Finance sector's loss of 3.74% and lagging the S&P 500's gain of 1.6% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Iron Mountain in its upcoming earnings disclosure. The company's earnings report is set to go public on May 2, 2024. The company is expected to report EPS of $1.05, up 8.25% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $1.46 billion, indicating a 11.29% increase compared to the same quarter of the previous year.
IRM's full-year Zacks Consensus Estimates are calling for earnings of $4.42 per share and revenue of $6.08 billion. These results would represent year-over-year changes of +7.28% and +10.86%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Iron Mountain. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Iron Mountain holds a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Iron Mountain is currently being traded at a Forward P/E ratio of 17.35. This represents a premium compared to its industry's average Forward P/E of 11.06.
Investors should also note that IRM has a PEG ratio of 4.34 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.21 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 97, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.