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Iron Mountain beat earnings estimates, raised revenue, and declared a dividend, but insiders sold shares despite a "Buy" consensus.
Iron Mountain Inc. reported stronger-than-expected earnings on August 6, posting $1.24 in adjusted EPS, surpassing the $1.19 estimate, with revenue rising 11.6% year-over-year to $1.68 billion.
The stock, trading near its 52-week high of $130.24, has a market cap of $29.59 billion and a high P/E ratio of 715.77.
Despite a consensus "Buy" rating and a $116.83 target price, institutional and insider activity showed reduced stakes, with Chicago Capital LLC trimming its position and executives including CEO William L. Meaney selling shares worth $6.54 million.
The company announced a quarterly dividend of $0.785 per share, yielding 3.1%.
Iron Mountain superó las estimaciones de ganancias, aumentó los ingresos y declaró un dividendo, pero los expertos vendieron acciones a pesar de un consenso de "comprar".