Despite an expected dip in profit, analysts are generally optimistic about Iron Mountain (IRM) as it prepares to reports its first quarter earnings on Wednesday, May 1, 2013.
Analysts are expecting Iron Mountain to come in with earnings of 27 cents per share, 6.9% less than a year ago when it reported earnings of 29 cents per share.
Analysts are projecting earnings of $1.19 per share for the fiscal year. Revenue is projected to be $761.6 million for the quarter, 2% above the year-earlier total of $746.5 million. For the year, revenue is projected to come in at $3.07 billion.
A year-over-year revenue increase in the fourth quarter of the last fiscal year came after three straight quarters of falling revenue. In the most recent quarter, revenue increased 4% year-over-year. Prior to that, revenue had been falling; it dropped 3.1% in the third quarter of the last fiscal year, 1.4% in the second quarter of the last fiscal year and 6.6% in the first quarter of the last fiscal year.
The profit decrease in the fourth quarter of the last fiscal year came after a profit increase in the previous quarter. Net income dropped in the most recent quarter by 20.5% to $25.5 million. The quarter prior to that, net income rose 41.4%.
The majority of analysts (55.6%) rate Iron Mountain as a buy. This compares favorably to the analyst ratings of its nearest eight competitors, which average 40.8% buys. That rating hasn't budged in three months as the average analyst rating of the stock has remained steady.
Earnings estimates provided by Zacks.
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