RingCentral Inc expected to post earnings of 88 cents a share - Earnings Preview

RingCentral

31/07/2024 24:52

* RingCentral Inc  RNG.N   RNG  is expected to show a rise
in
quarterly revenue when it reports  results on August 1 for the
period ending June 30 2024
    * The Belmont California California-based  company is
expected to
report a 8.7% increase in revenue to $586.375 million from
$539.31 million a year ago, according to the mean estimate from
21 analysts, based on LSEG data.The company's guidance on May 7
2024, for the period ended June 30, was for revenue between
$584.50 million and $587.50 million.
    * ​LSEG's mean analyst estimate for RingCentral Inc is for
earnings of 88 cents per share. The company's EPS guidance on
May 7 2024, for the period ended June 30, was between $0.87 and
$0.88 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 10 "strong buy" or "buy," 13
"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 $39.00​, above​ its last closing price of $34.53. ​​​

The company's guidance on May 7 2024 for the period ended June
30 was for Earnings before Interest and Taxes between USD121
million and USD121.6 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  
 Mar. 31 2024  0.80        0.80       0.87      Beat    9
 Dec. 31 2024  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.        0.69        0.69       0.76      Beat    9.5
 31 2023                                                
 Dec. 31 2022  0.59        0.59       0.60      Beat    1.5​
 Sep. 30 2022  0.51        0.51       0.55      Beat    8.9
 Jan. 1 0001   0.41        0.40       0.45      Beat    11.3
 This summary was machine generated July 30 at 23:52 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)