Analysts Expect Gartner Inc (IT) Will Announce Earnings of $0.53 Per Share

Equities analysts forecast that Gartner Inc (NYSE:IT) will announce earnings of $0.53 per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Gartner’s earnings, with the lowest EPS estimate coming in at $0.52 and the highest estimate coming in at $0.55. Gartner posted earnings of $0.72 per share during the same quarter last year, which indicates a negative year over year growth rate of 26.4%. The business is expected to announce its next quarterly earnings report on Tuesday, May 14th.

According to Zacks, analysts expect that Gartner will report full year earnings of $3.97 per share for the current financial year, with EPS estimates ranging from $3.87 to $4.03. For the next year, analysts anticipate that the company will post earnings of $4.64 per share, with EPS estimates ranging from $4.51 to $4.80. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Gartner.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, February 5th. The information technology services provider reported $1.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.25 by ($0.05). Gartner had a net margin of 3.08% and a return on equity of 37.74%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis.

A number of brokerages recently issued reports on IT. TheStreet upgraded Gartner from a “c+” rating to a “b” rating in a research note on Tuesday, February 5th. Robert W. Baird restated a “buy” rating and issued a $156.00 price objective on shares of Gartner in a research note on Wednesday, February 6th. Bank of America restated a “buy” rating and issued a $150.00 price objective on shares of Gartner in a research note on Wednesday, February 6th. BMO Capital Markets cut Gartner from an “outperform” rating to a “market perform” rating and set a $139.30 price objective on the stock. in a research note on Wednesday, February 6th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $141.00 price objective on shares of Gartner in a research note on Thursday, February 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Gartner has a consensus rating of “Hold” and a consensus price target of $142.81.

In other news, EVP Alwyn Dawkins sold 1,909 shares of the company’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $142.01, for a total transaction of $271,097.09. Following the sale, the executive vice president now directly owns 35,822 shares in the company, valued at $5,087,082.22. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Craig Safian sold 3,635 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $140.64, for a total value of $511,226.40. Following the sale, the chief financial officer now owns 33,008 shares in the company, valued at $4,642,245.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,234 shares of company stock worth $16,211,414. Company insiders own 4.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Lunia Capital LP grew its holdings in shares of Gartner by 19,665.1% during the fourth quarter. Lunia Capital LP now owns 16,641,445 shares of the information technology services provider’s stock worth $16,641,000 after purchasing an additional 16,557,249 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of Gartner by 0.5% during the third quarter. Vanguard Group Inc now owns 9,199,545 shares of the information technology services provider’s stock worth $1,458,127,000 after purchasing an additional 43,975 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Gartner by 5.6% during the fourth quarter. BlackRock Inc. now owns 6,264,009 shares of the information technology services provider’s stock worth $800,789,000 after purchasing an additional 331,238 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Gartner by 11.8% during the fourth quarter. Geode Capital Management LLC now owns 1,165,951 shares of the information technology services provider’s stock worth $148,786,000 after purchasing an additional 122,793 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Gartner by 0.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 798,511 shares of the information technology services provider’s stock worth $102,082,000 after purchasing an additional 5,820 shares in the last quarter. 99.17% of the stock is owned by institutional investors.

Shares of Gartner stock opened at $153.24 on Monday. Gartner has a 52-week low of $114.40 and a 52-week high of $161.21. The stock has a market capitalization of $13.90 billion, a P/E ratio of 40.43, a PEG ratio of 2.75 and a beta of 1.32. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 2.49.

About Gartner

Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.

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