Ryan Specialty (NYSE:RYAN) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Ryan Specialty (NYSE:RYAN) posted its quarterly earnings results on Thursday. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02, Briefing.com reports. The business had revenue of $695.40 million for the quarter, compared to analyst estimates of $695.56 million. Ryan Specialty had a return on equity of 49.43% and a net margin of 10.21%. The business’s revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 EPS.

Ryan Specialty Stock Performance

Shares of NYSE RYAN opened at $64.88 on Monday. Ryan Specialty has a 1 year low of $41.49 and a 1 year high of $69.03. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a fifty day moving average price of $57.18 and a two-hundred day moving average price of $52.74. The firm has a market cap of $16.90 billion, a P/E ratio of 129.38, a PEG ratio of 1.62 and a beta of 0.62.

Ryan Specialty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be given a $0.11 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $0.44 dividend on an annualized basis and a yield of 0.68%. Ryan Specialty’s dividend payout ratio (DPR) is 83.02%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RYAN. The Goldman Sachs Group increased their price objective on shares of Ryan Specialty from $58.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday. JMP Securities restated a “market perform” rating on shares of Ryan Specialty in a research report on Monday, April 15th. Wolfe Research lowered Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research report on Monday, May 6th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $62.00 price target on shares of Ryan Specialty in a report on Tuesday, July 2nd. Finally, UBS Group lifted their price objective on shares of Ryan Specialty from $63.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $61.00.

About Ryan Specialty

Ryan Specialty Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, Europe, and Singapore. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.