Zacks: Analysts Expect Gartner, Inc. (NYSE:IT) Will Announce Earnings of $2.09 Per Share

Brokerages expect that Gartner, Inc. (NYSE:ITGet Rating) will report $2.09 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Gartner’s earnings. The highest EPS estimate is $2.17 and the lowest is $1.97. Gartner reported earnings per share of $2.24 during the same quarter last year, which indicates a negative year over year growth rate of 6.7%. The business is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Gartner will report full year earnings of $7.83 per share for the current year, with EPS estimates ranging from $6.91 to $8.25. For the next fiscal year, analysts anticipate that the business will report earnings of $8.75 per share, with EPS estimates ranging from $8.01 to $9.32. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Gartner.

Gartner (NYSE:ITGet Rating) last posted its earnings results on Tuesday, May 3rd. The information technology services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $1.89 by $0.44. Gartner had a net margin of 16.39% and a return on equity of 239.82%. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period last year, the company posted $2.00 EPS. The company’s quarterly revenue was up 14.4% compared to the same quarter last year.

A number of brokerages recently issued reports on IT. Morgan Stanley lowered their price target on shares of Gartner from $357.00 to $339.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 9th. TheStreet cut shares of Gartner from a “b” rating to a “c+” rating in a research report on Tuesday, May 3rd. Bank of America raised shares of Gartner from a “neutral” rating to a “buy” rating and set a $340.00 price target for the company in a research report on Thursday, April 14th. Finally, StockNews.com began coverage on shares of Gartner in a research report on Thursday, March 31st. They set a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Gartner currently has an average rating of “Buy” and an average price target of $346.50.

In related news, Director Eileen Serra purchased 700 shares of Gartner stock in a transaction dated Friday, May 6th. The stock was purchased at an average cost of $251.99 per share, for a total transaction of $176,393.00. Following the completion of the purchase, the director now directly owns 700 shares of the company’s stock, valued at approximately $176,393. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alwyn Dawkins sold 1,000 shares of Gartner stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $297.08, for a total transaction of $297,080.00. The disclosure for this sale can be found here. Insiders sold 6,541 shares of company stock valued at $1,802,327 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. grew its position in Gartner by 128.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,942 shares of the information technology services provider’s stock valued at $1,198,000 after buying an additional 2,215 shares during the period. New World Advisors LLC bought a new stake in Gartner during the third quarter valued at approximately $260,000. Advisor Group Holdings Inc. grew its position in Gartner by 4.9% during the third quarter. Advisor Group Holdings Inc. now owns 16,239 shares of the information technology services provider’s stock valued at $4,934,000 after buying an additional 765 shares during the period. Russell Investments Group Ltd. grew its position in Gartner by 11.5% during the third quarter. Russell Investments Group Ltd. now owns 108,131 shares of the information technology services provider’s stock valued at $33,087,000 after buying an additional 11,160 shares during the period. Finally, Keybank National Association OH grew its position in Gartner by 151.6% during the third quarter. Keybank National Association OH now owns 4,846 shares of the information technology services provider’s stock valued at $1,473,000 after buying an additional 2,920 shares during the period. Hedge funds and other institutional investors own 92.05% of the company’s stock.

Shares of NYSE:IT traded up $7.92 on Friday, hitting $255.52. The company had a trading volume of 515,901 shares, compared to its average volume of 559,421. Gartner has a 1 year low of $221.50 and a 1 year high of $368.99. The firm has a market capitalization of $21.03 billion, a price-to-earnings ratio of 26.98 and a beta of 1.50. The firm’s 50-day simple moving average is $287.07 and its two-hundred day simple moving average is $300.51. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 20.79.

Gartner declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Gartner Company Profile (Get Rating)

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.

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Earnings History and Estimates for Gartner (NYSE:IT)

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