Iron Mountain (IRM - Free Report) closed at $32.30 in the latest trading session, marking a +1.7% move from the prior day. This move outpaced the S&P 500's daily gain of 0.64%. Meanwhile, the Dow gained 0.57%, and the Nasdaq, a tech-heavy index, added 0.6%.
Heading into today, shares of the real estate investment trust had lost 6.31% over the past month, lagging the Finance sector's loss of 1.45% and the S&P 500's loss of 1.87% in that time.
IRM will be looking to display strength as it nears its next earnings release, which is expected to be October 31, 2019. In that report, analysts expect IRM to post earnings of $0.58 per share. This would mark year-over-year growth of 5.45%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.08 billion, up 1.56% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.27 per share and revenue of $4.28 billion, which would represent changes of -1.3% and +1.35%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for IRM. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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 has moved 0.32% higher within the past month. IRM is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that IRM has a Forward P/E ratio of 14.02 right now. This valuation marks a discount compared to its industry's average Forward P/E of 15.96.
We can also see that IRM currently has a PEG ratio of 3.68. 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. REIT and Equity Trust - Other stocks are, on average, holding a PEG ratio of 3.36 based on yesterday's closing prices.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% 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.