Iron Mountain (IRM) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Iron Mountain (IRM) closed at $44.75, marking a -1.15% move from the previous day. This move lagged the S&P 500's daily gain of 0.84%. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq gained 0.1%.
Prior to today's trading, shares of the real estate investment trust had lost 3.02% over the past month. This has lagged the Finance sector's loss of 2.04% and was narrower than the S&P 500's loss of 4.03% in that time.
Iron Mountain will be looking to display strength as it nears its next earnings release, which is expected to be February 24, 2022. The company is expected to report EPS of $0.71, up 7.58% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.15 billion, up 8.21% from the year-ago period.
Any recent changes to analyst estimates for Iron Mountain should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Iron Mountain has a Forward P/E ratio of 15.46 right now. This valuation marks a premium compared to its industry's average Forward P/E of 14.67.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Iron Mountain Incorporated (IRM) : Free Stock Analysis Report
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