Broadridge and Gartner set to report third-quarter results

what happened

Broadridge and Gartner will report third-quarter earnings on Tuesday, StockStory says. Broadridge beat analysts' revenue forecasts last quarter with $2.22 billion, up 7.5% from a year earlier. The market now expects revenue growth of 3.2% year on year, after an 11.7% gain in the same quarter last year.

Gartner's revenue last quarter was flat year on year at $1.68 billion. Analysts expect a 2.4% decline this quarter, compared with a 2.7% increase a year ago. Both companies have missed Wall Street's revenue estimates several times over the last two years.

Broadridge shares have risen 12.4% over the past month and trade at $178.86, against an average analyst price target of $208.63. Gartner shares are up 22.9%, priced at $230.85, while the average analyst target is $193.77.

why it matters

Results from peers in the data and business services segment offer a reference point. Their share reactions varied: EXL and IBM were little changed, CoStar fell 14%, and Grid Dynamics rose 40.1%. The Broadridge and Gartner reports will show whether analysts' revenue expectations were accurate.

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