Cannae (NYSE:CNNE) Posts Earnings Results

Cannae (NYSE:CNNE) released its quarterly earnings results on Tuesday. The company reported ($0.22) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.22), Briefing.com reports. The business had revenue of $113.90 million for the quarter, compared to the consensus estimate of $105.67 million. Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. The business’s revenue was down 20.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.18) EPS.

Cannae Stock Down 2.8 %

Cannae stock opened at $20.43 on Friday. The company has a current ratio of 2.55, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10. Cannae has a 52-week low of $16.94 and a 52-week high of $22.99. The company’s 50 day moving average is $19.34 and its two-hundred day moving average is $19.17.

Cannae Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada raised 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.