Equities research analysts expect that RingCentral Inc (NYSE:RNG) will post earnings per share (EPS) of $0.21 for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for RingCentral’s earnings, with estimates ranging from $0.21 to $0.22. RingCentral reported earnings of $0.23 per share in the same quarter last year, which would suggest a negative year over year growth rate of 8.7%. The business is scheduled to announce its next earnings results on Monday, February 10th.
According to Zacks, analysts expect that RingCentral will report full year earnings of $0.81 per share for the current year, with EPS estimates ranging from $0.81 to $0.82. For the next financial year, analysts expect that the firm will report earnings of $0.93 per share, with EPS estimates ranging from $0.90 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, November 4th. The software maker reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. RingCentral had a negative return on equity of 1.66% and a negative net margin of 4.06%. The business had revenue of $233.35 million during the quarter, compared to analysts’ expectations of $221.37 million. During the same period in the prior year, the business earned $0.19 EPS. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year.
In related news, CEO Vladimir Shmunis sold 113,687 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $139.45, for a total transaction of $15,853,652.15. Following the completion of the sale, the chief executive officer now directly owns 292,020 shares in the company, valued at approximately $40,722,189. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Vaibhav Agarwal sold 315 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $125.86, for a total value of $39,645.90. The disclosure for this sale can be found here. Insiders have sold a total of 397,429 shares of company stock valued at $57,500,942 over the last 90 days. 11.03% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Baldwin Brothers Inc. MA lifted its stake in shares of RingCentral by 90.0% during the 2nd quarter. Baldwin Brothers Inc. MA now owns 380 shares of the software maker’s stock worth $44,000 after purchasing an additional 180 shares during the last quarter. Glen Harbor Capital Management LLC increased its position in RingCentral by 140.0% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 384 shares of the software maker’s stock valued at $44,000 after buying an additional 224 shares in the last quarter. Parkside Financial Bank & Trust increased its position in RingCentral by 285.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 405 shares of the software maker’s stock valued at $51,000 after buying an additional 300 shares in the last quarter. Tyers Asset Management LLC increased its position in RingCentral by 140.0% during the 2nd quarter. Tyers Asset Management LLC now owns 528 shares of the software maker’s stock valued at $61,000 after buying an additional 308 shares in the last quarter. Finally, Usca Ria LLC acquired a new position in RingCentral during the 3rd quarter valued at about $63,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.
Shares of RNG stock traded up $0.44 during mid-day trading on Tuesday, hitting $169.83. The stock had a trading volume of 1,231,925 shares, compared to its average volume of 911,351. RingCentral has a 12-month low of $64.41 and a 12-month high of $177.99. The firm has a market capitalization of $13.44 billion, a P/E ratio of -4,245.75 and a beta of 0.87. The firm’s 50-day moving average is $154.46 and its two-hundred day moving average is $132.65. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.99 and a quick ratio of 2.99.
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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