$0.28 Earnings Per Share Expected for RingCentral, Inc. (NYSE:RNG) This Quarter

Brokerages expect that RingCentral, Inc. (NYSE:RNG) will report $0.28 earnings per share for the current quarter, Zacks Investment Research reports. Eleven analysts have made estimates for RingCentral’s earnings. The highest EPS estimate is $0.29 and the lowest is $0.27. RingCentral reported earnings per share of $0.24 during the same quarter last year, which indicates a positive year over year growth rate of 16.7%. The business is scheduled to report its next earnings report after the market closes on Tuesday, August 3rd.

On average, analysts expect that RingCentral will report full year earnings of $1.26 per share for the current year, with EPS estimates ranging from $1.24 to $1.27. For the next fiscal year, analysts anticipate that the business will report earnings of $1.57 per share, with EPS estimates ranging from $1.40 to $1.72. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow RingCentral.

RingCentral (NYSE:RNG) last posted its earnings results on Tuesday, May 4th. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. RingCentral had a negative net margin of 1.77% and a negative return on equity of 27.38%. The business had revenue of $352.36 million for the quarter, compared to the consensus estimate of $339.43 million. During the same period last year, the company earned $0.19 EPS. The firm’s revenue was up 31.7% compared to the same quarter last year.

A number of research analysts have recently issued reports on RNG shares. Mizuho dropped their price target on shares of RingCentral from $500.00 to $400.00 and set a “buy” rating on the stock in a research report on Wednesday, May 5th. Morgan Stanley dropped their price target on shares of RingCentral from $455.00 to $390.00 and set an “overweight” rating on the stock in a research report on Friday, May 14th. Raymond James dropped their price target on shares of RingCentral from $515.00 to $410.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, May 5th. UBS Group started coverage on shares of RingCentral in a research report on Thursday, May 27th. They issued a “neutral” rating and a $275.00 price target on the stock. Finally, Oppenheimer restated a “market perform” rating on shares of RingCentral in a research report on Thursday, April 29th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. RingCentral has a consensus rating of “Buy” and a consensus price target of $427.00.

In other RingCentral news, CAO John H. Marlow sold 1,600 shares of the company’s stock in a transaction dated Tuesday, May 11th. The shares were sold at an average price of $266.92, for a total transaction of $427,072.00. Following the sale, the chief accounting officer now directly owns 215,493 shares of the company’s stock, valued at $57,519,391.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Vladimir Shmunis sold 17,760 shares of the company’s stock in a transaction dated Thursday, May 20th. The shares were sold at an average price of $256.91, for a total transaction of $4,562,721.60. Following the sale, the chief executive officer now directly owns 218,631 shares in the company, valued at $56,168,490.21. The disclosure for this sale can be found here. Insiders sold a total of 35,683 shares of company stock worth $9,262,038 over the last three months. 7.35% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Safeguard Investment Advisory Group LLC bought a new stake in shares of RingCentral during the fourth quarter valued at about $35,000. Whittier Trust Co. increased its position in shares of RingCentral by 86.2% in the first quarter. Whittier Trust Co. now owns 121 shares of the software maker’s stock worth $36,000 after purchasing an additional 56 shares during the last quarter. Penserra Capital Management LLC increased its position in shares of RingCentral by 18.4% in the fourth quarter. Penserra Capital Management LLC now owns 161 shares of the software maker’s stock worth $61,000 after purchasing an additional 25 shares during the last quarter. KB Financial Partners LLC bought a new position in shares of RingCentral in the first quarter worth approximately $77,000. Finally, Robeco Institutional Asset Management B.V. grew its position in RingCentral by 102.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 278 shares of the software maker’s stock valued at $83,000 after acquiring an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 84.36% of the company’s stock.

NYSE:RNG traded up $2.24 during mid-day trading on Thursday, hitting $269.99. 2,965 shares of the company’s stock were exchanged, compared to its average volume of 919,966. The stock’s 50 day moving average is $271.60. The company has a debt-to-equity ratio of 6.22, a current ratio of 1.67 and a quick ratio of 1.67. RingCentral has a fifty-two week low of $229.00 and a fifty-two week high of $449.00. The company has a market cap of $24.53 billion, a price-to-earnings ratio of -1,078.76 and a beta of 0.70.

RingCentral Company Profile

RingCentral, Inc provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect in North America. 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.

See Also: Momentum Indicators

Get a free copy of the Zacks research report on RingCentral (RNG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for RingCentral (NYSE:RNG)

Receive News & Ratings for RingCentral Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RingCentral and related companies with MarketBeat.com's FREE daily email newsletter.