Zacks: Analysts Expect Gartner Inc (NYSE:IT) Will Post Earnings of $0.61 Per Share

Wall Street brokerages forecast that Gartner Inc (NYSE:IT) will report $0.61 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Gartner’s earnings. The lowest EPS estimate is $0.43 and the highest is $0.87. Gartner reported earnings per share of $0.85 in the same quarter last year, which suggests a negative year over year growth rate of 28.2%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 7th.

According to Zacks, analysts expect that Gartner will report full-year earnings of $3.68 per share for the current fiscal year, with EPS estimates ranging from $3.49 to $3.98. For the next financial year, analysts expect that the firm will report earnings of $4.22 per share, with EPS estimates ranging from $3.96 to $4.63. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Gartner.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.18 by $0.27. Gartner had a net margin of 5.43% and a return on equity of 41.29%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company earned $1.03 EPS. Gartner’s revenue was up 7.0% on a year-over-year basis.

IT has been the subject of several analyst reports. Morgan Stanley lowered their price target on shares of Gartner from $156.00 to $155.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. BMO Capital Markets lowered their price target on shares of Gartner to $142.00 and set a “market perform” rating for the company in a research report on Wednesday, July 31st. ValuEngine cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Cantor Fitzgerald lifted their price target on shares of Gartner from $141.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Finally, Zacks Investment Research upgraded shares of Gartner from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Gartner presently has a consensus rating of “Hold” and a consensus price target of $151.67.

In related news, EVP Alwyn Dawkins sold 400 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $133.04, for a total transaction of $53,216.00. Following the completion of the transaction, the executive vice president now owns 34,806 shares in the company, valued at $4,630,590.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Karen E. Dykstra sold 1,812 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $150.22, for a total transaction of $272,198.64. Following the transaction, the director now owns 20,698 shares of the company’s stock, valued at approximately $3,109,253.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,944 shares of company stock valued at $1,067,058. Corporate insiders own 4.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of IT. Hartford Investment Management Co. lifted its stake in Gartner by 0.8% in the second quarter. Hartford Investment Management Co. now owns 9,773 shares of the information technology services provider’s stock valued at $1,573,000 after buying an additional 79 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in Gartner by 6.7% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,435 shares of the information technology services provider’s stock valued at $217,000 after buying an additional 90 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Gartner by 7.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,707 shares of the information technology services provider’s stock valued at $274,000 after buying an additional 113 shares in the last quarter. Intellectus Partners LLC lifted its stake in Gartner by 3.3% in the second quarter. Intellectus Partners LLC now owns 3,810 shares of the information technology services provider’s stock valued at $613,000 after buying an additional 120 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. lifted its stake in Gartner by 1.7% in the first quarter. Piedmont Investment Advisors Inc. now owns 7,883 shares of the information technology services provider’s stock valued at $1,196,000 after buying an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Shares of NYSE:IT traded down $3.15 during trading on Friday, hitting $129.43. 354,331 shares of the company’s stock were exchanged, compared to its average volume of 696,720. Gartner has a 1-year low of $120.89 and a 1-year high of $171.77. The firm has a 50-day moving average price of $150.27 and a two-hundred day moving average price of $151.63. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. The firm has a market cap of $11.96 billion, a P/E ratio of 34.15, a PEG ratio of 2.88 and a beta of 1.24.

Gartner Company Profile

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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Earnings History and Estimates for Gartner (NYSE:IT)

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