$0.16 EPS Expected for RingCentral Inc (NYSE:RNG) This Quarter

Share on StockTwits

Brokerages expect RingCentral Inc (NYSE:RNG) to post $0.16 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for RingCentral’s earnings. The lowest EPS estimate is $0.14 and the highest is $0.17. RingCentral reported earnings of $0.19 per share in the same quarter last year, which would suggest a negative year over year growth rate of 15.8%. The business is scheduled to announce its next earnings results after the market closes on Monday, August 5th.

On average, analysts expect that RingCentral will report full-year earnings of $0.73 per share for the current fiscal year, with EPS estimates ranging from $0.71 to $0.75. For the next fiscal year, analysts expect that the company will report earnings of $0.93 per share, with EPS estimates ranging from $0.81 to $0.99. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for RingCentral.

RingCentral (NYSE:RNG) last issued its earnings results on Monday, May 6th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.16). The firm had revenue of $201.50 million during the quarter, compared to analysts’ expectations of $193.54 million. RingCentral had a negative return on equity of 0.73% and a negative net margin of 4.12%. The business’s revenue was up 34.1% on a year-over-year basis. During the same quarter last year, the business earned $0.16 EPS.

RNG has been the subject of a number of recent research reports. Raymond James reduced their price objective on Adaptimmune Therapeutics from $16.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, May 7th. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price objective (up previously from $32.00) on shares of Kornit Digital in a research note on Tuesday, June 18th. Bank of America set a $54.00 price objective on Fortis and gave the company a “buy” rating in a research note on Thursday, May 2nd. Northland Securities reiterated a “buy” rating and set a $12.00 price objective on shares of Medallion Financial in a research note on Tuesday, May 7th. Finally, Deutsche Bank set a €230.00 ($267.44) price objective on adidas and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. RingCentral has a consensus rating of “Buy” and a consensus target price of $123.17.

In related news, CFO Mitesh Dhruv sold 1,901 shares of RingCentral stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $120.71, for a total value of $229,469.71. Following the completion of the transaction, the chief financial officer now owns 157,266 shares in the company, valued at approximately $18,983,578.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO David Sipes sold 13,500 shares of RingCentral stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $124.08, for a total value of $1,675,080.00. Following the completion of the transaction, the chief operating officer now owns 288,367 shares of the company’s stock, valued at approximately $35,780,577.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 331,541 shares of company stock valued at $39,949,648. 11.03% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Parametrica Management Ltd purchased a new position in shares of RingCentral in the 1st quarter valued at about $232,000. Carillon Tower Advisers Inc. purchased a new position in shares of RingCentral in the 1st quarter valued at about $43,332,000. Raymond James & Associates increased its stake in shares of RingCentral by 16.0% in the 1st quarter. Raymond James & Associates now owns 351,776 shares of the software maker’s stock valued at $37,921,000 after purchasing an additional 48,418 shares in the last quarter. Chartwell Investment Partners LLC increased its stake in shares of RingCentral by 1.1% in the 1st quarter. Chartwell Investment Partners LLC now owns 68,243 shares of the software maker’s stock valued at $7,357,000 after purchasing an additional 768 shares in the last quarter. Finally, Stephens Investment Management Group LLC purchased a new position in shares of RingCentral in the 1st quarter valued at about $11,132,000. Hedge funds and other institutional investors own 81.94% of the company’s stock.

Shares of NYSE RNG traded down $2.45 during trading on Monday, reaching $121.01. 323,312 shares of the company traded hands, compared to its average volume of 648,405. The company has a fifty day moving average price of $118.72. The firm has a market cap of $10.12 billion, a PE ratio of -3,025.25 and a beta of 0.79. RingCentral has a 12-month low of $64.41 and a 12-month high of $127.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 3.08 and a current ratio of 3.08.

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.

Featured Story: How a Back-End Load Mutual Fund Works

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.