Cannae (NYSE:CNNE) Given New $27.00 Price Target at Royal Bank of Canada

Cannae (NYSE:CNNE) had its price objective hoisted by Royal Bank of Canada from $26.00 to $27.00 in a research note released on Thursday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Cannae Stock Down 0.1 %

Cannae stock traded down $0.02 during mid-day trading on Thursday, hitting $20.41. The stock had a trading volume of 143,571 shares, compared to its average volume of 535,380. The stock has a 50-day simple moving average of $19.34 and a two-hundred day simple moving average of $19.17. Cannae has a 12 month low of $16.94 and a 12 month high of $22.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.55 and a quick ratio of 1.01.

Cannae (NYSE:CNNE) last issued its earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.22). Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. The firm had revenue of $113.90 million for the quarter, compared to analysts’ expectations of $105.67 million. During the same quarter last year, the business earned ($2.18) earnings per share. The company’s revenue was down 20.7% compared to the same quarter last year. On average, research analysts expect that Cannae will post -3.03 earnings per share for the current year.

Cannae Dividend Announcement

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

Hedge Funds Weigh In On Cannae

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Maven Securities LTD bought a new position in Cannae during the third quarter worth about $358,000. BNP Paribas Financial Markets lifted its holdings in shares of Cannae by 10.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,384 shares of the company’s stock valued at $236,000 after purchasing an additional 1,150 shares in the last quarter. FMR LLC lifted its holdings in shares of Cannae by 17.6% during the 3rd quarter. FMR LLC now owns 2,653,854 shares of the company’s stock valued at $50,582,000 after purchasing an additional 397,352 shares in the last quarter. Mirabella Financial Services LLP lifted its holdings in shares of Cannae by 42.7% during the 3rd quarter. Mirabella Financial Services LLP now owns 55,772 shares of the company’s stock valued at $1,063,000 after purchasing an additional 16,681 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Cannae during the 3rd quarter valued at about $244,000. Institutional investors own 88.12% of the company’s stock.

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.