RingCentral, Inc. (NYSE:RNG) Shareholders to Collect $0.12 Quarterly Dividend

Key Points

• RingCentral declared a quarterly dividend of $0.125 per share, payable November 20 to shareholders of record November 6. The dividend implies $0.50 in annualized payments and a 0.6% yield.
• RingCentral’s latest quarterly results exceeded expectations, with adjusted earnings of $1.33 per share versus the $1.28 consensus and revenue of $676.04 million, up 5.8% year over year.
• Analyst sentiment is mixed: five analysts rate the stock a Buy and eight rate it a Hold, producing an overall “Hold” consensus and an average price target of $72.50.

RingCentral, Inc. (NYSE:RNG - Get Free Report) declared a quarterly dividend on Thursday, October 22nd. Stockholders of record on Friday, November 6th will be given a dividend of $0.1250 per share by the software maker on Friday, November 20th. This represents a $0.50 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, November 6th.

RingCentral Trading Down 4.0%

RNG opened at $79.11 on Friday. RingCentral has a twelve month low of $24.14 and a twelve month high of $83.71. The firm has a market capitalization of $6.61 billion, a PE ratio of 63.29, a PEG ratio of 1.43 and a beta of 1.10. The firm's 50-day moving average price is $73.63 and its 200 day moving average price is $54.03.

RingCentral (NYSE:RNG - Get Free Report) last released its earnings results on Thursday, October 22nd. The software maker reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.05. The business had revenue of $676.04 million for the quarter, compared to analyst estimates of $667.30 million. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The business's revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $1.13 EPS. As a group, analysts predict that RingCentral will post 2.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

• It's RingCentral NYSE: RNG You Want In Your 2021 Portfolio, Not Zoom NASDAQ: ZM

A number of research firms have weighed in on RNG. Mizuho boosted their price objective on RingCentral from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Needham & Company LLC lifted their price target on RingCentral from $85.00 to $110.00 and gave the stock a "buy" rating in a report on Friday. Royal Bank Of Canada initiated coverage on shares of RingCentral in a research report on Thursday, September 3rd. They set an "outperform" rating and a $85.00 price target on the stock. Oppenheimer reissued an "outperform" rating on shares of RingCentral in a report on Friday. Finally, Jefferies Financial Group restated a "hold" rating and set a $75.00 price objective on shares of RingCentral in a research report on Friday. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $72.50.

About RingCentral

RingCentral, Inc is a provider of cloud-based business communications and collaboration solutions. Its platform enables organizations to manage business phone services, team messaging, video meetings, contact center operations and other communications through internet-based applications rather than traditional on-premises systems.

The company's offerings include RingEX, a unified communications platform that combines voice, messaging and video; RingCentral Video for online meetings and collaboration; and RingCX, a cloud contact center solution.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.