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Iron Mountain (IRM) Outpaces Stock Market Gains: What You Should Know
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Iron Mountain (IRM - Free Report) closed at $46.22 in the latest trading session, marking a +0.24% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.22%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.22%.
Heading into today, shares of the real estate investment trust had lost 6.61% over the past month, outpacing the Finance sector's loss of 9.02% and the S&P 500's loss of 10.02% in that time.
Wall Street will be looking for positivity from Iron Mountain as it approaches its next earnings report date. On that day, Iron Mountain is projected to report earnings of $0.88 per share, which would represent year-over-year growth of 3.53%. Our most recent consensus estimate is calling for quarterly revenue of $1.3 billion, up 16.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.78 per share and revenue of $5.2 billion, which would represent changes of +36.96% and +15.82%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Iron Mountain. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Iron Mountain is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Iron Mountain currently has a Forward P/E ratio of 12.24. Its industry sports an average Forward P/E of 12.25, 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 3.06. 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 industry currently had an average PEG ratio of 2.19 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow IRM in the coming trading sessions, be sure to utilize Zacks.com.
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Iron Mountain (IRM) Outpaces Stock Market Gains: What You Should Know
Iron Mountain (IRM - Free Report) closed at $46.22 in the latest trading session, marking a +0.24% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.22%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.22%.
Heading into today, shares of the real estate investment trust had lost 6.61% over the past month, outpacing the Finance sector's loss of 9.02% and the S&P 500's loss of 10.02% in that time.
Wall Street will be looking for positivity from Iron Mountain as it approaches its next earnings report date. On that day, Iron Mountain is projected to report earnings of $0.88 per share, which would represent year-over-year growth of 3.53%. Our most recent consensus estimate is calling for quarterly revenue of $1.3 billion, up 16.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.78 per share and revenue of $5.2 billion, which would represent changes of +36.96% and +15.82%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Iron Mountain. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Iron Mountain is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Iron Mountain currently has a Forward P/E ratio of 12.24. Its industry sports an average Forward P/E of 12.25, 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 3.06. 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 industry currently had an average PEG ratio of 2.19 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow IRM in the coming trading sessions, be sure to utilize Zacks.com.