Gartner (IT) Set to Announce Earnings on Tuesday

Gartner (NYSE:ITGet Rating) is set to post its quarterly earnings results before the market opens on Tuesday, May 3rd. Analysts expect Gartner to post earnings of $1.89 per share for the quarter. Gartner has set its FY 2022 guidance at $6.740-$ EPS and its FY22 guidance at at least $6.74 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Gartner (NYSE:ITGet Rating) last announced its quarterly earnings data on Tuesday, February 8th. The information technology services provider reported $2.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.46 by $0.53. Gartner had a net margin of 16.76% and a return on equity of 149.70%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the company earned $1.59 EPS. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, analysts expect Gartner to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Shares of NYSE IT opened at $298.20 on Tuesday. Gartner has a 52-week low of $195.53 and a 52-week high of $368.99. The firm has a fifty day moving average of $290.42 and a 200-day moving average of $304.83. The stock has a market capitalization of $24.54 billion, a PE ratio of 32.31 and a beta of 1.58. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 6.62.

Gartner announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Several analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Gartner from $357.00 to $339.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 9th. StockNews.com started coverage on shares of Gartner in a research note on Thursday, March 31st. They set a “buy” rating for the company. Zacks Investment Research cut shares of Gartner from a “strong-buy” rating to a “hold” rating and set a $336.00 price target for the company. in a research report on Tuesday, January 4th. Finally, 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. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Gartner has a consensus rating of “Buy” and a consensus price target of $346.50.

In other Gartner news, EVP Alwyn Dawkins sold 1,000 shares of the company’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $273.41, for a total value of $273,410.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Zullo Investment Group Inc. purchased a new position in Gartner in the 4th quarter valued at about $61,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Gartner in the 4th quarter valued at about $281,000. Forum Financial Management LP acquired a new stake in shares of Gartner in the 4th quarter valued at about $308,000. Vident Investment Advisory LLC raised its stake in shares of Gartner by 10.0% in the 4th quarter. Vident Investment Advisory LLC now owns 2,563 shares of the information technology services provider’s stock valued at $856,000 after purchasing an additional 233 shares in the last quarter. Finally, MML Investors Services LLC raised its stake in shares of Gartner by 16.1% in the 4th quarter. MML Investors Services LLC now owns 2,609 shares of the information technology services provider’s stock valued at $872,000 after purchasing an additional 362 shares in the last quarter. 92.02% of the stock is owned by institutional investors.

About Gartner (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.

See Also

Earnings History for Gartner (NYSE:IT)

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