Gartner (NYSE:IT) Issues FY 2024 Earnings Guidance

Gartner (NYSE:IT) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 11.050- for the period, compared to the consensus earnings per share estimate of 11.630. The company issued revenue guidance of $6.2 billion-, compared to the consensus revenue estimate of $6.2 billion.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Robert W. Baird decreased their price objective on shares of Gartner from $536.00 to $517.00 and set an outperform rating for the company in a report on Wednesday, May 1st. BMO Capital Markets lowered their price target on Gartner from $450.00 to $432.00 and set a market perform rating for the company in a report on Thursday, May 2nd. UBS Group dropped their price target on Gartner from $550.00 to $510.00 and set a buy rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley boosted their target price on shares of Gartner from $440.00 to $470.00 and gave the company an equal weight rating in a research note on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Gartner in a report on Tuesday, April 16th. They set a hold rating and a $507.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $478.50.

Gartner Stock Performance

NYSE:IT traded up $34.07 during midday trading on Tuesday, reaching $504.91. 407,112 shares of the company traded hands, compared to its average volume of 402,423. The firm has a market capitalization of $39.20 billion, a price-to-earnings ratio of 49.50, a price-to-earnings-growth ratio of 4.08 and a beta of 1.33. The company has a fifty day moving average price of $446.18 and a 200 day moving average price of $454.07. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. Gartner has a twelve month low of $323.61 and a twelve month high of $505.58.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $2.88 earnings per share. On average, analysts expect that Gartner will post 11.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the sale, the director now owns 608,369 shares of the company’s stock, valued at $276,929,568.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Gartner news, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the completion of the transaction, the director now owns 608,369 shares in the company, valued at approximately $276,929,568.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alwyn Dawkins sold 800 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $454.57, for a total value of $363,656.00. Following the transaction, the executive vice president now directly owns 50,783 shares in the company, valued at $23,084,428.31. The disclosure for this sale can be found here. Insiders have sold a total of 22,544 shares of company stock valued at $10,079,813 in the last quarter. Company 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.