Cannae (NYSE:CNNE) Issues Quarterly Earnings Results

Cannae (NYSE:CNNE) announced its quarterly earnings data on Tuesday. The company reported ($0.22) earnings per share 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 firm had revenue of $113.90 million for the quarter, compared to analyst estimates of $105.67 million. During the same period in the previous year, the company earned ($2.18) earnings per share. The business’s quarterly revenue was down 20.7% compared to the same quarter last year.

Cannae Price Performance

NYSE:CNNE traded down $0.59 during trading hours on Thursday, hitting $20.43. 411,090 shares of the stock were exchanged, compared to its average volume of 537,153. The firm’s fifty day moving average price is $19.34 and its 200 day moving average price is $19.17. Cannae has a 52-week low of $16.94 and a 52-week high of $22.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.28 billion, a P/E ratio of -4.29 and a beta of 0.87.

Cannae Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Cannae Company Profile

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.