RingCentral Inc (NYSE:RNG) Expected to Post Earnings of $0.19 Per Share

Analysts predict that RingCentral Inc (NYSE:RNG) will announce earnings per share (EPS) of $0.19 for the current quarter, according to Zacks. Eleven analysts have made estimates for RingCentral’s earnings. The lowest EPS estimate is $0.18 and the highest is $0.21. RingCentral also posted earnings per share of $0.19 during the same quarter last year. The company is scheduled to report its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that RingCentral will report full-year earnings of $0.78 per share for the current fiscal year, with EPS estimates ranging from $0.76 to $0.81. For the next fiscal year, analysts expect that the company will report earnings of $0.94 per share, with EPS estimates ranging from $0.90 to $1.01. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover RingCentral.

RingCentral (NYSE:RNG) last posted its quarterly earnings results on Monday, July 29th. The software maker reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.13. RingCentral had a negative return on equity of 1.13% and a negative net margin of 3.95%. The business had revenue of $215.20 million during the quarter, compared to the consensus estimate of $204.70 million. During the same period in the prior year, the company posted $0.19 EPS. The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year.

RNG has been the topic of a number of recent analyst reports. SunTrust Banks increased their target price on RingCentral to $163.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Bank of America raised their price target on RingCentral from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 target price (up previously from $140.00) on shares of RingCentral in a report on Tuesday, July 30th. Zacks Investment Research raised RingCentral from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a report on Thursday, July 4th. Finally, Craig Hallum lifted their target price on RingCentral from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $138.63.

In related news, insider Praful Shah sold 5,016 shares of RingCentral stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $115.33, for a total transaction of $578,495.28. Following the completion of the transaction, the insider now directly owns 257,763 shares in the company, valued at $29,727,806.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO John H. Marlow sold 30,987 shares of RingCentral stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $141.94, for a total value of $4,398,294.78. Following the transaction, the chief accounting officer now owns 171,296 shares of the company’s stock, valued at $24,313,754.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 408,986 shares of company stock valued at $55,074,381. 11.03% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Signaturefd LLC increased its position in shares of RingCentral by 31.4% in the first quarter. Signaturefd LLC now owns 364 shares of the software maker’s stock valued at $39,000 after buying an additional 87 shares in the last quarter. Sheets Smith Wealth Management increased its position in shares of RingCentral by 4.0% during the first quarter. Sheets Smith Wealth Management now owns 4,305 shares of the software maker’s stock worth $464,000 after purchasing an additional 166 shares in the last quarter. Baldwin Brothers Inc. MA increased its position in shares of RingCentral by 90.0% during the second quarter. Baldwin Brothers Inc. MA now owns 380 shares of the software maker’s stock worth $44,000 after purchasing an additional 180 shares in the last quarter. AJ Wealth Strategies LLC increased its position in shares of RingCentral by 6.8% during the second quarter. AJ Wealth Strategies LLC now owns 3,238 shares of the software maker’s stock worth $372,000 after purchasing an additional 206 shares in the last quarter. Finally, Glen Harbor Capital Management LLC increased its position in shares of RingCentral by 140.0% during the second quarter. Glen Harbor Capital Management LLC now owns 384 shares of the software maker’s stock worth $44,000 after purchasing an additional 224 shares in the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.

RNG stock opened at $133.56 on Friday. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 1.13. The business’s fifty day simple moving average is $137.01 and its two-hundred day simple moving average is $120.64. RingCentral has a twelve month low of $64.41 and a twelve month high of $146.38. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of -3,339.00 and a beta of 0.87.

RingCentral Company Profile

RingCentral, Inc provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect primarily in North America. The company's products include RingCentral Office, provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax through smartphones, tablets, PCs, and desk phones; RingCentral Professional, a cloud based virtual telephone service for professionals, as well as provides inbound call answering and management services, and includes inbound local, long-distance, and toll-free minutes; and RingCentral Fax that provides online fax capabilities that allow businesses to send and receive fax documents without a fax machine.

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