Iron Mountain Inc. (IRM) has been on a very smooth rally since early March as the overall market has strengthened and accelerated.

Company Description

Iron Mountain Inc. provides data/information management, security and disposal services both domestically and internationally. The company was founded in 1951 and has a market cap of $5.58 billion.

First-Quarter Results

Iron Mountain reported first-quarter results on Apr 30 that were ahead of estimates. Revenue was down a marginal 3.5% to $723 million. Adjusted earnings came in at 20 cents per share, 8 cents ahead of the consensus estimate.

This was the fourth time in the last 4 quarters that the company has either matched or beat the consensus, having done so by an average of 5 cents, or 37%.

Outlook Reaffirmed

During the call, Iron Mountain reaffirmed its 2009 revenue guidance of 5% to 7% and raised its target for operating income by $20 million.

Analysts Bullish

Analysts recently raised their earnings projection, with the current-year up 7 cents to 82 cents per share in the last 30 days and the current-year estimate up to $1.00, a 22% earnings growth projection.

The Chart

Shares of IRM have been in a smooth up trend since early march when the overall market began to strengthen and accelerate. Take a look below.

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