Wall Street brokerages expect RingCentral Inc (NYSE:RNG) to post earnings of $0.19 per share for the current fiscal quarter, Zacks reports. Eleven analysts have issued estimates for RingCentral’s earnings. The highest EPS estimate is $0.21 and the lowest is $0.18. RingCentral also reported earnings per share of $0.19 during the same quarter last year. The firm is scheduled to report its next earnings report on Monday, November 4th.

On average, analysts expect that RingCentral will report full-year earnings of $0.78 per share for the current fiscal year, with EPS estimates ranging from $0.74 to $0.81. For the next financial year, analysts forecast that the business will report earnings of $0.95 per share, with EPS estimates ranging from $0.90 to $1.01. Zacks’ EPS calculations are an average based on a survey of analysts that cover RingCentral.

RingCentral (NYSE:RNG) last announced its quarterly earnings results on Monday, July 29th. The software maker reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.13. The company had revenue of $215.20 million for the quarter, compared to the consensus estimate of $204.70 million. RingCentral had a negative return on equity of 1.16% and a negative net margin of 3.95%. The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period last year, the firm earned $0.19 EPS.

Several equities research analysts have weighed in on the company. Stephens reaffirmed a “hold” rating and set a $95.00 price target on shares of RingCentral in a research report on Monday, May 6th. Craig Hallum increased their price target on RingCentral from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Zacks Investment Research raised RingCentral from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a research report on Thursday, July 4th. Raymond James increased their target price on shares of RingCentral from $140.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, July 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $150.00 target price (up from $140.00) on shares of RingCentral in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $135.94.

RNG traded up $2.52 during midday trading on Tuesday, hitting $140.91. 787,000 shares of the company were exchanged, compared to its average volume of 802,737. The business has a 50 day moving average of $125.97. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of -3,522.75 and a beta of 0.79. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 1.19. RingCentral has a 1-year low of $64.41 and a 1-year high of $146.38.

In other news, CAO John H. Marlow sold 27,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $143.06, for a total transaction of $3,862,620.00. Following the sale, the chief accounting officer now directly owns 175,408 shares of the company’s stock, valued at approximately $25,093,868.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO David Sipes sold 13,500 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $124.08, for a total transaction of $1,675,080.00. Following the sale, the chief operating officer now directly owns 288,367 shares in the company, valued at $35,780,577.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 358,541 shares of company stock worth $43,812,268. Corporate insiders own 11.03% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Parametrica Management Ltd purchased a new position in RingCentral in the 1st quarter valued at about $232,000. Carillon Tower Advisers Inc. purchased a new position in RingCentral in the 1st quarter valued at about $43,332,000. Raymond James & Associates lifted its stake in 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 buying an additional 48,418 shares in the last quarter. Chartwell Investment Partners LLC lifted its stake in 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 buying an additional 768 shares in the last quarter. Finally, Stephens Investment Management Group LLC purchased a new position in RingCentral in the 1st quarter valued at about $11,132,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for RingCentral (NYSE:RNG)

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