$0.38 EPS Expected for RingCentral, Inc. (NYSE:RNG) This Quarter

Wall Street brokerages predict that RingCentral, Inc. (NYSE:RNGGet Rating) will report earnings of $0.38 per share for the current fiscal quarter, according to Zacks. Eleven analysts have provided estimates for RingCentral’s earnings. The highest EPS estimate is $0.40 and the lowest is $0.34. RingCentral reported earnings of $0.32 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 18.8%. The business is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that RingCentral will report full year earnings of $1.72 per share for the current financial year, with EPS estimates ranging from $1.68 to $1.84. For the next financial year, analysts expect that the firm will post earnings of $2.22 per share, with EPS estimates ranging from $2.06 to $2.43. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow RingCentral.

RingCentral (NYSE:RNGGet Rating) last posted its quarterly earnings results on Monday, May 9th. The software maker reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. The business had revenue of $467.66 million during the quarter, compared to analysts’ expectations of $458.36 million. RingCentral had a negative net margin of 30.82% and a negative return on equity of 183.51%. The business’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.41) earnings per share.

Several brokerages recently issued reports on RNG. Northland Securities reduced their target price on shares of RingCentral from $275.00 to $175.00 in a report on Tuesday, May 10th. The Goldman Sachs Group dropped their price target on shares of RingCentral from $240.00 to $205.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. JPMorgan Chase & Co. dropped their price target on shares of RingCentral from $460.00 to $225.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of RingCentral from $210.00 to $110.00 in a research report on Tuesday, May 10th. Finally, Wells Fargo & Company dropped their price target on shares of RingCentral from $185.00 to $150.00 in a research report on Tuesday, May 10th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $192.00.

In related news, CFO Vaibhav Agarwal sold 10,443 shares of RingCentral stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $67.59, for a total value of $705,842.37. Following the completion of the transaction, the chief financial officer now owns 85,357 shares in the company, valued at $5,769,279.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mohammed Katibeh sold 1,846 shares of RingCentral stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $67.60, for a total transaction of $124,789.60. Following the completion of the transaction, the chief operating officer now owns 110,098 shares of the company’s stock, valued at approximately $7,442,624.80. The disclosure for this sale can be found here. 7.35% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of RNG. First Horizon Advisors Inc. grew its holdings in RingCentral by 440.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 714 shares of the software maker’s stock worth $38,000 after acquiring an additional 582 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of RingCentral by 10.8% in the 3rd quarter. CIBC Asset Management Inc now owns 3,290 shares of the software maker’s stock valued at $716,000 after buying an additional 322 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of RingCentral by 9.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 12,413 shares of the software maker’s stock valued at $2,700,000 after buying an additional 1,076 shares in the last quarter. Forsta AP Fonden boosted its holdings in shares of RingCentral by 18.2% in the 3rd quarter. Forsta AP Fonden now owns 17,500 shares of the software maker’s stock valued at $3,806,000 after buying an additional 2,700 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of RingCentral by 77.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 310 shares of the software maker’s stock valued at $67,000 after buying an additional 135 shares in the last quarter. Institutional investors own 85.96% of the company’s stock.

NYSE RNG opened at $62.58 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 33.52. The company has a fifty day simple moving average of $102.80 and a two-hundred day simple moving average of $158.15. RingCentral has a 12-month low of $59.04 and a 12-month high of $315.00. The stock has a market cap of $5.77 billion, a P/E ratio of -11.00 and a beta of 0.93.

RingCentral Company Profile (Get Rating)

RingCentral, Inc provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect in North America. The company offers business cloud communications and contact center solutions based on its Message Video Phone? platform. Its products include RingCentral Office that provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers omni-channel; and RingCentral Engage Digital, a digital customer engagement platform that allows enterprises to interact with their customers.

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Earnings History and Estimates for RingCentral (NYSE:RNG)

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