RingCentral Inc expected to post earnings of 80 cents a share - Earnings Preview

RingCentral

04/05/2024 03:06

* RingCentral Inc  RNG.N   RNG  is expected to show a rise
in
quarterly revenue when it reports  results on May 7 for the
period ending March 31 2024
    * The Belmont California California-based  company is
expected to
report a 8.3% increase in revenue to $578.167 million from
$533.69 million a year ago, according to the mean estimate from
22 analysts, based on LSEG data.The company's guidance on
February 20 2024, for the period ended March 31, was for revenue
between $575.00 million and $580.00 million.
    * ​LSEG's mean analyst estimate for RingCentral Inc is for
earnings of 80 cents per share. The company's EPS guidance on
February 20 2024, for the period ended March 31, was between
$0.79 and $0.80 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," 14
"hold" and no "sell" or "strong sell."  
    * The mean earnings estimate of analysts was unchanged in
the last
three months. ​
    * Wall Street's median 12-month price target for RingCentral
Inc
is $37.00​, above​ its last closing price of $30.49. ​​​

The company's guidance on February 20 2024 for the period ended
March 31 was for Earnings before Interest and Taxes between
USD112.1 million and USD113.1 million.
Previous quarterly performance (using preferred earnings measure
in US dollars). ​
 QUARTER       STARMINESM  LSEG IBES  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  ESTIMATE             MET,    SE %
               E®                               MISSED  
 Dec. 31 2023  0.83        0.82       0.86      Beat    4.6
 Sep. 30 2023  0.74        0.75       0.78      Beat    4.3
 Jun. 30 2023  0.75        0.75       0.83      Beat    10.7​
 Mar. 31 2023  0.69        0.69       0.76      Beat    9.5
 ​​Dec.        0.59        0.59       0.60      Beat    1.5
 31 2022                                                
 Jan. 1 0001   0.51        0.51       0.55      Beat    8.9​
 Jun. 30 2022  0.41        0.40       0.45      Beat    11.3
 Mar. 31 2022  0.34        0.34       0.39      Beat    14
 This summary was machine generated May 4 at 02:06 GMT.  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)