Ringcentral, Inc. (RNG) Set to Announce Quarterly Earnings on Wednesday
Ringcentral, Inc. (NYSE:RNG) will announce its earnings results after the market closes on Wednesday, November 8th. Analysts expect the company to announce earnings of $0.04 per share for the quarter.
Ringcentral (NYSE:RNG) last posted its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $119.40 million during the quarter, compared to analyst estimates of $118.19 million. Ringcentral had a negative net margin of 6.77% and a negative return on equity of 19.59%. The company’s revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.02 earnings per share. On average, analysts expect Ringcentral to post $-0.35 EPS for the current fiscal year and $-0.28 EPS for the next fiscal year.
Ringcentral, Inc. (NYSE:RNG) opened at 42.15 on Wednesday. Ringcentral, Inc. has a 52-week low of $19.35 and a 52-week high of $44.95. The firm’s market cap is $3.23 billion. The stock has a 50 day moving average of $41.99 and a 200-day moving average of $37.33.
In other news, CAO John H. Marlow sold 7,946 shares of Ringcentral stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $39.20, for a total value of $311,483.20. Following the transaction, the chief accounting officer now owns 135,047 shares of the company’s stock, valued at $5,293,842.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO John H. Marlow sold 6,000 shares of Ringcentral stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $42.43, for a total transaction of $254,580.00. Following the completion of the transaction, the chief accounting officer now directly owns 133,101 shares in the company, valued at approximately $5,647,475.43. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 382,106 shares of company stock worth $15,665,035. Insiders own 14.53% of the company’s stock.
RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for businesses to support modern communications. The Company’s cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing, online meetings, and fax.
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