Rimini Street Inc reports results for the quarter ended in March - Earnings Summary

Rimini Street

03/05/2024 19:09

* Rimini Street Inc  RMNI.OQ  reported quarterly adjusted
earnings
of 8 cents​​ per share for the quarter ended in March, lower
than the same quarter last year, when the company reported EPS
of 12 cents.  The mean expectation of four analysts for the
quarter was for earnings of 10 cents per share. Wall Street
expected results to range from 8 cents to 12 cents per share.
    * Revenue rose 1.2% to $106.75 million from a year ago;
analysts
expected $106.21 million. 
    * Rimini Street Inc's reported EPS for the quarter was 1
cent​.
    * The company reported quarterly net income of $1.32
million.
    * Rimini Street Inc shares had fallen by 19.9% this
quarter and
lost 20.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 14.8%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the it services &
consulting peer group is  "hold."

Wall Street's median 12-month price target for Rimini Street Inc
is $3.75 
This summary was machine generated from LSEG data May 3 at 06:09
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.10           0.08           Missed
 Dec. 31 2023      0.11           0.19           Beat
 Sep. 30 2023      0.10           0.13           Beat
 Jun. 30 2023      0.11           0.10           Missed