Iron Mountain (IRM) Dips More Than Broader Markets: What You Should Know

In the latest trading session, Iron Mountain (IRM) closed at $43.66, marking a -1.4% move from the previous day. This change lagged the S&P 500's daily loss of 0.54%. Meanwhile, the Dow lost 0.02%, and the Nasdaq, a tech-heavy index, lost 0.12%.

Prior to today's trading, shares of the real estate investment trust had lost 16.07% over the past month. This has lagged the Finance sector's loss of 1.79% and the S&P 500's loss of 7.87% in that time.

Investors will be hoping for strength from Iron Mountain as it approaches its next earnings release. The company is expected to report EPS of $0.71, up 7.58% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.15 billion, up 8.21% from the prior-year quarter.

Any recent changes to analyst estimates for Iron Mountain should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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.

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. Within the past 30 days, our consensus EPS projection remained stagnant. Iron Mountain is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, Iron Mountain currently has a Forward P/E ratio of 15.13. For comparison, its industry has an average Forward P/E of 14.42, which means Iron Mountain is trading at a premium to the group.

The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 104, putting it in the top 41% 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.

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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.