Iron Mountain (IRM) closed at $32.21 in the latest trading session, marking a -1.14% move from the prior day. This move lagged the S&P 500's daily gain of 1.42%. Meanwhile, the Dow gained 1.42%, and the Nasdaq, a tech-heavy index, added 1.4%.
Coming into today, shares of the real estate investment trust had lost 1.54% in the past month. In that same time, the Finance sector gained 1.72%, while the S&P 500 gained 0.38%.
IRM will be looking to display strength as it nears its next earnings release, which is expected to be October 31, 2019. On that day, IRM is projected to report earnings of $0.58 per share, which would represent year-over-year growth of 5.45%. Our most recent consensus estimate is calling for quarterly revenue of $1.08 billion, up 1.56% from the year-ago period.
IRM's full-year Zacks Consensus Estimates are calling for earnings of $2.27 per share and revenue of $4.28 billion. These results would represent year-over-year changes of -1.3% and +1.35%, respectively.
Investors might also notice recent changes to analyst estimates for IRM. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.32% higher within the past month. IRM currently has a Zacks Rank of #3 (Hold).
Investors should also note IRM's current valuation metrics, including its Forward P/E ratio of 14.38. This valuation marks a discount compared to its industry's average Forward P/E of 15.85.
It is also worth noting that IRM currently has a PEG ratio of 3.77. 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 3.42 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% 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.
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