Analysts Anticipate Gartner, Inc. (IT) Will Post Earnings of $0.84 Per Share

Brokerages expect Gartner, Inc. (NYSE:IT) to announce $0.84 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Gartner’s earnings, with the highest EPS estimate coming in at $0.87 and the lowest estimate coming in at $0.83. Gartner posted earnings of $0.71 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 18.3%. The business is scheduled to issue its next earnings results on Thursday, August 3rd.

According to Zacks, analysts expect that Gartner will report full-year earnings of $3.43 per share for the current fiscal year, with EPS estimates ranging from $3.22 to $3.51. For the next fiscal year, analysts forecast that the company will report earnings of $4.09 per share, with EPS estimates ranging from $3.62 to $4.40. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Gartner.

Gartner (NYSE:IT) last issued its quarterly earnings results on Thursday, May 4th. The information technology services provider reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.01. The business had revenue of $625.17 million for the quarter, compared to analysts’ expectations of $612.84 million. Gartner had a return on equity of 954.04% and a net margin of 7.22%. The company’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 EPS.

A number of analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Gartner from a “hold” rating to a “sell” rating in a report on Tuesday, March 14th. Credit Suisse Group reissued an “outperform” rating and set a $130.00 price target (up from $124.00) on shares of Gartner in a report on Friday, May 5th. Royal Bank Of Canada increased their price target on shares of Gartner from $124.00 to $130.00 and gave the stock a “top pick” rating in a report on Friday, May 5th. Barclays PLC increased their price target on shares of Gartner from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, April 6th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $128.00 price target on shares of Gartner in a report on Monday, May 8th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $118.36.

Gartner (NYSE:IT) traded down 0.18% on Thursday, hitting $123.00. 194,610 shares of the company were exchanged. The company has a market capitalization of $11.12 billion, a P/E ratio of 55.91 and a beta of 1.05. The firm’s 50 day moving average is $117.05 and its 200 day moving average is $107.87. Gartner has a 52 week low of $84.54 and a 52 week high of $124.37.

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In other news, Director Karen E. Dykstra sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $120.61, for a total value of $301,525.00. Following the transaction, the director now directly owns 18,223 shares of the company’s stock, valued at $2,197,876.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Alwyn Dawkins sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $117.86, for a total transaction of $117,860.00. Following the completion of the transaction, the senior vice president now directly owns 28,085 shares in the company, valued at $3,310,098.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,297 shares of company stock worth $5,793,254. Insiders own 4.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new stake in Gartner during the fourth quarter valued at about $11,620,000. Bessemer Group Inc. boosted its stake in Gartner by 103.5% in the fourth quarter. Bessemer Group Inc. now owns 5,756 shares of the information technology services provider’s stock valued at $582,000 after buying an additional 2,928 shares during the last quarter. State Street Corp boosted its stake in Gartner by 0.6% in the fourth quarter. State Street Corp now owns 2,662,379 shares of the information technology services provider’s stock valued at $269,080,000 after buying an additional 14,672 shares during the last quarter. Trexquant Investment LP boosted its stake in Gartner by 6.6% in the fourth quarter. Trexquant Investment LP now owns 3,199 shares of the information technology services provider’s stock valued at $323,000 after buying an additional 199 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Gartner by 360.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 139,187 shares of the information technology services provider’s stock valued at $14,071,000 after buying an additional 108,937 shares during the last quarter. Hedge funds and other institutional investors own 88.01% of the company’s stock.

About Gartner

Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “IT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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