RingCentral (RNG) Releases FY18 Earnings Guidance
RingCentral (NYSE:RNG) issued an update on its FY18 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.56-0.60 for the period, compared to the Thomson Reuters consensus estimate of $0.28. The company issued revenue guidance of $629-639 million, compared to the consensus revenue estimate of $613.78 million.RingCentral also updated its Q1 guidance to $0.11-0.13 EPS.
RingCentral (RNG) opened at $53.35 on Tuesday. RingCentral has a fifty-two week low of $22.55 and a fifty-two week high of $56.15.
RingCentral (NYSE:RNG) last announced its earnings results on Monday, February 12th. The software maker reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. RingCentral had a negative return on equity of 17.97% and a negative net margin of 5.80%. The business had revenue of $140.50 million during the quarter, compared to analysts’ expectations of $136.34 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The business’s revenue was up 34.4% compared to the same quarter last year. research analysts forecast that RingCentral will post -0.33 EPS for the current year.
In other RingCentral news, CFO Mitesh Dhruv sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $48.22, for a total transaction of $144,660.00. Following the completion of the sale, the chief financial officer now owns 129,087 shares of the company’s stock, valued at $6,224,575.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Vladimir Shmunis sold 101,453 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $48.34, for a total value of $4,904,238.02. Following the sale, the chief executive officer now directly owns 355,041 shares of the company’s stock, valued at approximately $17,162,681.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 230,934 shares of company stock valued at $11,112,262. Insiders own 14.53% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This story was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this story can be viewed at https://www.thecerbatgem.com/2018/02/13/ringcentral-rng-releases-fy18-earnings-guidance.html.
RingCentral Company Profile
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.
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.