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Ryan Specialty Hldgs Inc Up 6.88% To $50.50 After Earnings Beat

Wednesday, February 28, 2024 02:13 PM | InvestorsObserver Analysts

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Ryan Specialty Hldgs Inc Up 6.88% To $50.50 After Earnings Beat

Ryan Specialty Holdings Inc (RYAN) reported better than expected earnings this afternoon for Q4 2023.

Analyst expectations for Ryan Specialty Hldgs Inc earnings per share (EPS) were at $0.34, with the company surpassing those estimates with a reported EPS of $0.35, leading to a positive surprise of $0.01 per share (3%). Ryan Specialty Hldgs Inc's earnings rose 30% year-over-year as the firm reported an EPS of $0.27 in its year-ago quarter. The positive annual growth shows the Financial Services company is performing well amid recent economic conditions.

Consensus analyst estimates were at $523 million. The Financial Services company managed to surpass those expectations for its fourth quarter with revenue of $532.9 million, a positive revenue surprise of $9.9 million (2%). The firm managed 22% growth year-over-year due to Ryan Specialty Hldgs Inc reporting quarterly revenue of $435 million in its year-ago quarter. Ryan Specialty Hldgs Inc achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is up 6.88% to $50.50 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Ryan Specialty Hldgs Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 32. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Ryan Specialty Holdings Inc, formerly Ryan Specialty Group Holdings Inc is a service provider of specialty products and solutions for insurance brokers, agents and carriers. It provides distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter.

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