Gartner (IT) Set to Announce Quarterly Earnings on Tuesday

Gartner (NYSE:IT) is scheduled to be releasing its earnings data before the market opens on Tuesday, April 30th. Analysts expect Gartner to post earnings of $2.53 per share for the quarter. Gartner has set its FY 2024 guidance at 10.550- EPS.Parties interested in participating in the company’s conference call can do so using this link.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.21. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the business earned $3.70 earnings per share. Gartner’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts expect Gartner to post $11 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Gartner Stock Performance

Shares of IT stock opened at $443.06 on Tuesday. The company has a market cap of $34.55 billion, a P/E ratio of 40.06, a PEG ratio of 4.02 and a beta of 1.29. The business has a 50 day moving average of $464.91 and a two-hundred day moving average of $436.38. Gartner has a 52 week low of $292.60 and a 52 week high of $486.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.60.

Analyst Ratings Changes

A number of brokerages recently issued reports on IT. UBS Group raised Gartner from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $484.00 to $550.00 in a report on Thursday, April 11th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. BMO Capital Markets raised their price objective on shares of Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a research report on Thursday, February 8th. Morgan Stanley lifted their target price on shares of Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Gartner in a research report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $477.60.

Insider Activity

In related news, Director James C. Smith sold 5,000 shares of Gartner stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $455.00, for a total transaction of $2,275,000.00. Following the sale, the director now directly owns 638,235 shares of the company’s stock, valued at $290,396,925. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Claire Herkes sold 1,460 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the sale, the executive vice president now owns 2,842 shares of the company’s stock, valued at $1,352,109.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James C. Smith sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $455.00, for a total transaction of $2,275,000.00. Following the transaction, the director now owns 638,235 shares of the company’s stock, valued at approximately $290,396,925. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,952 shares of company stock valued at $10,598,070. Insiders own 3.60% of the company’s stock.

About Gartner

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.