Brokerages Expect Gartner, Inc. (IT) Will Announce Quarterly Sales of $853.03 Million
Equities research analysts expect that Gartner, Inc. (NYSE:IT) will report $853.03 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Gartner’s earnings, with the highest sales estimate coming in at $875.39 million and the lowest estimate coming in at $812.30 million. Gartner posted sales of $574.06 million in the same quarter last year, which suggests a positive year-over-year growth rate of 48.6%. The business is expected to issue its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Gartner will report full-year sales of $853.03 million for the current fiscal year, with estimates ranging from $3.27 billion to $3.49 billion. For the next year, analysts anticipate that the firm will post sales of $4.03 billion per share, with estimates ranging from $3.96 billion to $4.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Gartner.
Gartner (NYSE:IT) last released its earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.05. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The company had revenue of $843.73 million for the quarter, compared to analyst estimates of $892.64 million. During the same period in the prior year, the business earned $0.75 EPS. The firm’s quarterly revenue was up 38.3% on a year-over-year basis.
Several equities research analysts have commented on the company. BidaskClub lowered Gartner from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research lowered Gartner from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. TheStreet lowered Gartner from a “b” rating to a “c+” rating in a research note on Tuesday, August 8th. Credit Suisse Group reiterated an “outperform” rating and set a $138.00 target price (up previously from $130.00) on shares of Gartner in a report on Wednesday, August 9th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $105.00 target price on shares of Gartner in a report on Thursday, August 31st. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $126.56.
Gartner (NYSE IT) opened at 124.56 on Wednesday. Gartner has a 1-year low of $84.54 and a 1-year high of $130.02. The firm has a market cap of $11.28 billion, a P/E ratio of 255.77 and a beta of 1.07. The firm has a 50 day moving average of $121.84 and a 200 day moving average of $119.13.
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In other Gartner news, Director Anne Sutherland Fuchs sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $117.02, for a total value of $585,100.00. Following the completion of the sale, the director now owns 29,895 shares of the company’s stock, valued at $3,498,312.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Alwyn Dawkins sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $118.62, for a total transaction of $118,620.00. Following the completion of the sale, the senior vice president now directly owns 27,137 shares of the company’s stock, valued at approximately $3,218,990.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,363 shares of company stock worth $2,775,387. Company insiders own 4.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC boosted its stake in shares of Gartner by 466.7% in the second quarter. Advisory Services Network LLC now owns 969 shares of the information technology services provider’s stock valued at $120,000 after purchasing an additional 798 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in Gartner during the 2nd quarter worth $124,000. Bronfman E.L. Rothschild L.P. increased its stake in Gartner by 9.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,182 shares of the information technology services provider’s stock worth $146,000 after buying an additional 103 shares during the period. Commonwealth Bank of Australia increased its stake in Gartner by 20.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,200 shares of the information technology services provider’s stock worth $148,000 after buying an additional 200 shares during the period. Finally, Global X Management Co. LLC increased its stake in Gartner by 31.6% during the 1st quarter. Global X Management Co. LLC now owns 1,725 shares of the information technology services provider’s stock worth $186,000 after buying an additional 414 shares during the period. 91.95% of the stock is currently owned by institutional investors and hedge funds.
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.
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