RingCentral Inc (RNG) Expected to Post Earnings of $0.18 Per Share

Equities analysts expect that RingCentral Inc (NYSE:RNG) will post earnings per share (EPS) of $0.18 for the current quarter, according to Zacks. Eleven analysts have made estimates for RingCentral’s earnings, with estimates ranging from $0.17 to $0.19. RingCentral posted earnings per share of $0.07 in the same quarter last year, which would suggest a positive year-over-year growth rate of 157.1%. The firm is scheduled to issue its next earnings results on Monday, February 11th.

On average, analysts expect that RingCentral will report full-year earnings of $0.71 per share for the current financial year, with EPS estimates ranging from $0.70 to $0.73. For the next year, analysts expect that the business will post earnings of $0.67 per share, with EPS estimates ranging from $0.59 to $0.71. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for RingCentral.

RingCentral (NYSE:RNG) last released its quarterly earnings results on Monday, November 5th. The software maker reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. RingCentral had a negative return on equity of 3.64% and a negative net margin of 4.25%. The company had revenue of $173.83 million for the quarter, compared to analysts’ expectations of $166.70 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The firm’s revenue was up 33.4% compared to the same quarter last year.

A number of research firms have commented on RNG. Robert W. Baird upgraded RingCentral from a “neutral” rating to an “outperform” rating and set a $100.00 price target on the stock in a research note on Monday, November 19th. TheStreet cut RingCentral from a “c” rating to a “d+” rating in a research note on Tuesday, November 6th. Bank of America decreased their price target on RingCentral from $100.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, November 6th. Morgan Stanley upped their price target on RingCentral from $84.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, January 7th. Finally, Deutsche Bank began coverage on RingCentral in a research note on Monday, October 8th. They set a “buy” rating and a $105.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. RingCentral currently has a consensus rating of “Buy” and a consensus target price of $92.27.

NYSE:RNG traded down $0.27 during trading hours on Friday, reaching $86.91. 724,729 shares of the stock were exchanged, compared to its average volume of 706,938. The company has a quick ratio of 4.07, a current ratio of 4.07 and a debt-to-equity ratio of 1.22. RingCentral has a twelve month low of $47.65 and a twelve month high of $98.15. The stock has a market capitalization of $7.02 billion, a price-to-earnings ratio of -248.31 and a beta of 0.97.

In other news, CEO Vladimir Shmunis sold 51,532 shares of the company’s stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $85.67, for a total transaction of $4,414,746.44. Following the sale, the chief executive officer now owns 289,260 shares of the company’s stock, valued at $24,780,904.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO John H. Marlow sold 17,789 shares of the company’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $74.35, for a total value of $1,322,612.15. Following the sale, the chief accounting officer now directly owns 152,546 shares in the company, valued at approximately $11,341,795.10. The disclosure for this sale can be found here. Insiders have sold 245,984 shares of company stock worth $19,928,104 in the last ninety days. Corporate insiders own 11.99% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue increased its holdings in RingCentral by 1.9% in the fourth quarter. State of Alaska Department of Revenue now owns 8,420 shares of the software maker’s stock valued at $694,000 after buying an additional 161 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in RingCentral by 75.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,401 shares of the software maker’s stock valued at $130,000 after buying an additional 601 shares during the last quarter. Swiss National Bank increased its holdings in RingCentral by 0.7% in the third quarter. Swiss National Bank now owns 116,500 shares of the software maker’s stock valued at $10,840,000 after buying an additional 800 shares during the last quarter. Credit Suisse AG increased its holdings in RingCentral by 1.4% in the third quarter. Credit Suisse AG now owns 74,869 shares of the software maker’s stock valued at $6,967,000 after buying an additional 1,009 shares during the last quarter. Finally, US Bancorp DE increased its holdings in RingCentral by 141.7% in the second quarter. US Bancorp DE now owns 1,745 shares of the software maker’s stock valued at $123,000 after buying an additional 1,023 shares during the last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

About RingCentral

RingCentral, Inc provides software-as-a-service solutions for business communications and collaboration primarily in the United States. The company's products include RingCentral Office, a multi-tenant, multi-location, and enterprise-grade communications and collaboration solution that enables employees to communicate through voice, text, team messaging and collaboration, and HD video and Web conferencing through smartphones, tablets, PCs, and desk phones for businesses, which require a communications solution; RingCentral Professional, an inbound call routing subscription with additional text and fax capabilities primarily for smaller businesses; and RingCentral Fax solution that offers Internet fax capabilities, which allow businesses to send and receive fax documents without the need for a fax machine.

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