NEW YORK (TheStreet) -- Iron Mountain (IRM) shares are down 5.2% to $36.81 in trading on Friday after the records management service provider released its fourth quarter earnings results before the opening bell today.
The Boston-based company reported earnings of 52 cents per share, 3 cents short of the 55 cents per share analysts were expecting the company to report this quarter. Revenue for the period increased 1.3% to $778 million, but also fell short of the $786.48 million analyst consensus.
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Adjusted OIBDA for the quarter increased to $220 million from $195 million during the same period last year while operating expenses declined 3.1% to $650.1 million.
For the full year the company reported earnings of $326.1 million, or $1.66 per share, on revenue of $3.12 billion.
For the current year the company issued full year earnings guidance in the $1.15 to $1.30 per share range with revenue expected to come in between $3.03 billion and $3.15 billion range.
TheStreet Ratings team rates IRON MOUNTAIN INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate IRON MOUNTAIN INC (IRM) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: IRM Ratings Report