Cannae (NYSE:CNNE) Releases Earnings Results, Meets Expectations

Cannae (NYSE:CNNE) released its quarterly earnings results on Tuesday. The company reported ($0.22) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.22), Briefing.com reports. Cannae had a negative net margin of 68.61% and a negative return on equity of 7.98%. The business had revenue of $113.90 million for the quarter, compared to the consensus estimate of $105.67 million. During the same period in the previous year, the firm earned ($2.18) EPS. The business’s revenue was down 20.7% on a year-over-year basis.

Cannae Stock Down 2.8 %

Shares of NYSE CNNE traded down $0.59 during midday trading on Thursday, hitting $20.43. 411,090 shares of the company’s stock were exchanged, compared to its average volume of 537,153. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.01 and a quick ratio of 1.01. Cannae has a twelve month low of $16.94 and a twelve month high of $22.99. The firm’s fifty day simple moving average is $19.34 and its 200-day simple moving average is $19.17. The company has a market cap of $1.28 billion, a PE ratio of -4.29 and a beta of 0.87.

Cannae Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Tuesday, December 17th. Cannae’s dividend payout ratio (DPR) is presently -9.98%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada boosted their price objective on Cannae from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday.

About Cannae

Cannae Holdings, Inc is a principal investment firm. The firm primarily invests in restaurants, technology enabled healthcare services, financial services and more. It takes both minority and majority stakes. Cannae Holdings, Inc was founded in 2014 and is based in Las Vegas, Nevada.