In the latest trading session, Iron Mountain (IRM) closed at $33.42, marking a +1.12% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.01%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq lost 0.19%.
Coming into today, shares of the real estate investment trust had gained 5.86% in the past month. In that same time, the Finance sector gained 1.48%, while the S&P 500 gained 3.61%.
Wall Street will be looking for positivity from IRM as it approaches its next earnings report date. The company is expected to report EPS of $0.58, up 5.45% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.08 billion, up 1.56% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.26 per share and revenue of $4.28 billion. These totals would mark changes of -1.74% and +1.35%, respectively, from last 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 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. 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.
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% lower within the past month. IRM is currently a Zacks Rank #3 (Hold).
In terms of valuation, IRM is currently trading at a Forward P/E ratio of 14.63. Its industry sports an average Forward P/E of 15.52, so we one might conclude that IRM is trading at a discount comparatively.
Also, we should mention that IRM has a PEG ratio of 3.84. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The REIT and Equity Trust - Other industry currently had an average PEG ratio of 3.4 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 103, 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.
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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.