The Ryland Group Sets New 1-Year Low on Disappointing Earnings (RYL)
The Ryland Group (NYSE:RYL)’s share price reached a new 52-week low on Thursday following a dissappointing earnings announcement, AnalystRatings.NET reports. The company traded as low as $31.22 and last traded at $32.38, with a volume of 2,403,740 shares traded. The stock had previously closed at $34.83.
The company reported $0.57 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.68 by $0.11. The company had revenue of $577.40 million for the quarter, compared to the consensus estimate of $618.51 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 30th. Investors of record on Wednesday, October 15th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Friday, October 10th.
RYL has been the subject of a number of recent research reports. Analysts at Barclays raised their price target on shares of The Ryland Group from $45.00 to $48.00 in a research note on Monday, June 30th. They now have an “equal weight” rating on the stock. Analysts at Zacks upgraded shares of The Ryland Group from an “underperform” rating to a “neutral” rating in a research note on Wednesday, May 7th. They now have a $38.60 price target on the stock. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The Ryland Group currently has an average rating of “Hold” and an average price target of $45.80.
The stock’s 50-day moving average is $38.17 and its 200-day moving average is $39.96. The company has a market cap of $1.529 billion and a P/E ratio of 5.21.
The Ryland Group, Inc, is a homebuilders and a mortgage-finance company. In addition, Ryland Mortgage Company and its subsidiaries, and RMC Mortgage Corporation (NYSE:RYL) provide mortgage financing and related services.
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