Gartner, Inc. (IT) Releases FY17 Earnings Guidance
Gartner, Inc. (NYSE:IT) updated its FY17 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.39-3.50 for the period, compared to the Thomson Reuters consensus estimate of $3.41. The company issued revenue guidance of $3.26-3.33 billion, compared to the consensus revenue estimate of $3.33 billion.
A number of research analysts recently issued reports on the company. Royal Bank Of Canada reiterated a top pick rating and issued a $142.00 target price (up from $130.00) on shares of Gartner in a report on Friday, July 21st. Zacks Investment Research upgraded Gartner from a hold rating to a buy rating and set a $142.00 target price for the company in a report on Wednesday, July 19th. Cantor Fitzgerald reiterated a buy rating and issued a $139.00 target price on shares of Gartner in a report on Thursday. Morgan Stanley lifted their target price on Gartner from $118.00 to $120.00 and gave the company an equal weight rating in a report on Monday, October 23rd. Finally, BMO Capital Markets reiterated a buy rating and issued a $137.00 target price on shares of Gartner in a report on Friday, October 13th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Gartner has a consensus rating of Buy and an average target price of $128.89.
Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.05. The company had revenue of $843.73 million during the quarter, compared to analysts’ expectations of $892.64 million. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The firm’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS.
In other Gartner news, SVP Robin B. Kranich sold 7,487 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $120.08, for a total value of $899,038.96. Following the completion of the transaction, the senior vice president now directly owns 21,298 shares of the company’s stock, valued at approximately $2,557,463.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Alwyn Dawkins sold 1,000 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 27,137 shares of the company’s stock, valued at $3,218,990.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,363 shares of company stock valued at $2,775,387. 4.30% of the stock is currently owned by corporate insiders.
Gartner Company Profile
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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