Cannae Holdings, Inc. (CNNE) to Issue Quarterly Dividend of $0.15 on September 30th

Cannae Holdings, Inc. (NYSE:CNNE) declared a quarterly dividend on Thursday, August 6th. Stockholders of record on Wednesday, September 16th will be paid a dividend of 0.15 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, September 16th.

Cannae has a dividend payout ratio of -56.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Cannae Stock Up 0.2%

NYSE CNNE opened at $15.44 on Monday. Cannae has a 1-year low of $10.46 and a 1-year high of $19.88. The company has a market capitalization of $669.63 million, a price-to-earnings ratio of -5.11 and a beta of 1.21. The stock’s 50 day moving average is $15.06 and its two-hundred day moving average is $13.75. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.07.

Cannae (NYSE:CNNE) last posted its earnings results on Monday, August 10th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of ($0.42) by $1.28. The business had revenue of $102.20 million during the quarter, compared to the consensus estimate of $99.65 million. Cannae had a negative return on equity of 14.10% and a negative net margin of 38.18%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CNNE shares. Royal Bank Of Canada restated an “outperform” rating and set a $16.00 price target on shares of Cannae in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of Cannae from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday, August 26th. Finally, Wall Street Zen raised Cannae from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.50.

Cannae Company Profile

Cannae Holdings, Inc (NYSE: CNNE) is a diversified holding company that invests in and manages operating businesses across the restaurant, payment technology and financial services sectors. The company combines majority-owned operating companies with minority investments in businesses it views as having long-term growth potential.

Cannae’s operating activities have included restaurant businesses such as O’Charley’s and 99 Restaurants, as well as Legendary Baking. Its investment portfolio has also included companies involved in payment processing, financial technology, data services and other business services.