Cannae (CNNE) Posts Earnings Results, Beats Estimates By $0.04 EPS
Cannae (NYSE:CNNE) announced its earnings results on Thursday. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.04, MarketWatch Earnings reports. The company had revenue of $293.50 million for the quarter, compared to analyst estimates of $315.25 million. Cannae had a negative return on equity of 1.37% and a negative net margin of 2.53%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.24) earnings per share.
Cannae stock opened at $18.07 on Friday. Cannae has a one year low of $16.16 and a one year high of $21.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.69. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 11.73 and a beta of 0.73.
A number of brokerages have recently weighed in on CNNE. Piper Jaffray Companies upgraded Cannae from a “neutral” rating to an “overweight” rating and set a $25.00 target price on the stock in a research note on Friday. Zacks Investment Research lowered Cannae from a “hold” rating to a “sell” rating in a research note on Tuesday, August 28th. Finally, TheStreet upgraded Cannae from a “d+” rating to a “c-” rating in a research note on Thursday, September 6th.
A number of institutional investors have recently bought and sold shares of CNNE. NumerixS Investment Technologies Inc bought a new position in shares of Cannae in the 2nd quarter valued at $109,000. Cornerstone Wealth Management LLC bought a new position in shares of Cannae in the 2nd quarter valued at $626,000. Raymond James Trust N.A. bought a new position in shares of Cannae in the 3rd quarter valued at $250,000. Hikari Power Ltd bought a new position in shares of Cannae in the 2nd quarter valued at $249,000. Finally, Cambria Investment Management L.P. bought a new position in shares of Cannae in the 2nd quarter valued at $253,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.
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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 is based in Las Vegas, Nevada.
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