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 10.900- for the period, compared to the consensus earnings per share estimate of 11.380. The company issued revenue guidance of $6.2 billion-, compared to the consensus revenue estimate of $6.3 billion.

Gartner Price Performance

NYSE:IT traded down $2.44 during trading hours on Thursday, hitting $419.95. 223,958 shares of the company’s stock traded hands, compared to its average volume of 405,438. The firm has a market cap of $32.74 billion, a P/E ratio of 41.95, a P/E/G ratio of 3.59 and a beta of 1.32. Gartner has a 52 week low of $295.43 and a 52 week high of $486.54. The business’s fifty day simple moving average is $463.85 and its two-hundred day simple moving average is $439.90. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.60.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.40. Gartner had a return on equity of 147.74% and a net margin of 13.35%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the company posted $2.88 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. On average, research analysts anticipate that Gartner will post 11.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. BMO Capital Markets decreased their price objective on Gartner from $450.00 to $432.00 and set a market perform rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on Gartner in a report on Tuesday, April 16th. They set a hold rating and a $507.00 price target on the stock. Morgan Stanley boosted their price target on Gartner from $421.00 to $446.00 and gave the company an equal weight rating in a report on Tuesday, February 6th. StockNews.com downgraded Gartner from a buy rating to a hold rating in a report on Saturday, February 10th. Finally, Robert W. Baird reduced their price target on Gartner from $536.00 to $517.00 and set an outperform rating on the stock in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $474.50.

Insider Transactions at Gartner

In related news, EVP Valentin Sribar sold 682 shares of Gartner stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the transaction, the executive vice president now owns 12,269 shares in the company, valued at $5,557,857. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the transaction, the executive vice president now owns 12,269 shares of the company’s stock, valued at $5,557,857. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Akhil Jain sold 250 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total value of $116,137.50. Following the transaction, the executive vice president now directly owns 5,239 shares in the company, valued at $2,433,777.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,952 shares of company stock valued at $10,598,070. 3.60% of the stock is currently owned by insiders.

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.