Ryan Specialty (NYSE:RYAN) Announces Quarterly Earnings Results

Ryan Specialty (NYSE:RYAN - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.35 EPS for the quarter, hitting analysts' consensus estimates of $0.35, Briefing.com reports. Ryan Specialty had a net margin of 9.15% and a return on equity of 46.11%. The firm had revenue of $552.00 million during the quarter, compared to analyst estimates of $549.06 million. During the same period in the previous year, the business posted $0.26 earnings per share. The business's revenue for the quarter was up 20.6% on a year-over-year basis.

Ryan Specialty Price Performance

NYSE:RYAN traded down $1.45 during trading hours on Friday, hitting $51.50. 2,143,221 shares of the stock traded hands, compared to its average volume of 804,185. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.98. Ryan Specialty has a 1 year low of $39.44 and a 1 year high of $56.51. The company has a market cap of $13.40 billion, a price-to-earnings ratio of 97.17 and a beta of 0.58. The stock has a 50 day moving average price of $52.56 and a 200 day moving average price of $47.07.

Ryan Specialty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Monday, May 13th. Ryan Specialty's dividend payout ratio is currently 83.02%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. JMP Securities reiterated a "market perform" rating on shares of Ryan Specialty in a research note on Monday, April 15th. Wells Fargo & Company lifted their price target on shares of Ryan Specialty from $57.00 to $58.00 and gave the stock an "overweight" rating in a research note on Thursday, April 11th. Citigroup lifted their price target on shares of Ryan Specialty from $49.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 28th. Keefe, Bruyette & Woods raised their price objective on shares of Ryan Specialty from $56.00 to $62.00 and gave the stock an "outperform" rating in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ryan Specialty from $47.00 to $49.00 and gave the stock an "underweight" rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $54.25.

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.