Cannae (NYSE:CNNE) Announces Quarterly Earnings Results

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

Cannae Price Performance

Shares of NYSE CNNE traded down $0.09 during trading hours on Monday, reaching $17.60. 714,085 shares of the stock traded hands, compared to its average volume of 535,125. The company’s 50-day simple moving average is $15.99 and its two-hundred day simple moving average is $14.27. The company has a market capitalization of $696.04 million, a P/E ratio of -5.83 and a beta of 1.19. Cannae has a 52-week low of $10.46 and a 52-week high of $18.48. 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 Dividend Announcement

The company also recently disclosed 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 dividend 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

Several research firms have recently weighed in on CNNE. Wall Street Zen raised shares of Cannae from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings lowered Cannae from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, October 8th. Finally, Royal Bank Of Canada boosted their target price on Cannae from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, October 9th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.