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

RingCentral, Inc. (NYSE:RNG) 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) 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

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.