Cannae (NYSE:CNNE) Posts Earnings Results

by · The Cerbat Gem

Cannae (NYSE:CNNE – Get Free Report) announced its earnings results on Monday. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03), Zacks reports. Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%.

Cannae Price Performance

Shares of CNNE stock traded up $0.39 during trading hours on Monday, reaching $18.78. The company had a trading volume of 411,545 shares, compared to its average volume of 443,893. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. The stock has a fifty day moving average of $17.59 and a 200-day moving average of $19.15. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -3.90 and a beta of 1.03. Cannae has a 12-month low of $15.92 and a 12-month high of $22.36.

Cannae Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.56%. Cannae’s dividend payout ratio (DPR) is presently -10.17%.

Cannae announced that its board has initiated a share repurchase plan on Tuesday, March 25th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Royal Bank of Canada reduced their target price on Cannae from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Oppenheimer dropped their price target on Cannae from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, March 7th.

View Our Latest Analysis on CNNE

Cannae Company Profile

(Get Free Report)

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.

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