Cannae (NYSE:CNNE) Issues Earnings Results

Cannae (NYSE:CNNE) released its quarterly earnings data on Monday. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29), FiscalAI reports. Cannae had a negative net margin of 38.18% and a negative return on equity of 14.10%. The company had revenue of $1.90 million for the quarter, compared to analyst estimates of $92.25 million.

Cannae Price Performance

CNNE stock traded down $0.09 during midday trading on Monday, reaching $17.60. 714,085 shares of the company’s stock traded hands, compared to its average volume of 536,253. The company has a 50-day simple moving average of $15.99 and a two-hundred day simple moving average of $14.27. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.07. Cannae has a 1-year low of $10.46 and a 1-year high of $18.48. The company has a market cap of $696.04 million, a price-to-earnings ratio of -5.83 and a beta of 1.19.

Cannae Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 17th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, December 17th. Cannae’s dividend payout ratio (DPR) is currently -19.87%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CNNE. Weiss Ratings cut Cannae from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, October 8th. Royal Bank Of Canada increased their target price on shares of Cannae from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, October 9th. Finally, Wall Street Zen raised shares of 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 and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.00.

About Cannae

Cannae Holdings, Inc is a diversified investment company that manages a portfolio of operating businesses and strategic investments. The company focuses on sectors including restaurants, financial services, payments, and business services, with the goal of building long-term value through active ownership and capital allocation.

Cannae has held interests in a range of companies, including restaurant operators, payment technology businesses, and providers of financial and business services.