Cannae’s (CNNE) “Outperform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reissued their outperform rating on shares of Cannae (NYSE:CNNE) in a research note published on Tuesday morning,Benzinga reports. Royal Bank Of Canada currently has a $16.00 price target on the stock.

Other analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cannae in a report on Monday, July 6th. Stephens reissued an “overweight” rating and issued a $17.00 target price on shares of Cannae in a report on Thursday, April 23rd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.50.

Cannae Stock Up 3.5%

CNNE opened at $15.54 on Tuesday. The firm’s 50-day simple moving average is $14.55 and its 200-day simple moving average is $13.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.71 and a current ratio of 1.71. Cannae has a twelve month low of $10.46 and a twelve month high of $19.88. The firm has a market cap of $673.93 million, a price-to-earnings ratio of -5.15 and a beta of 1.20.

Cannae (NYSE:CNNE) last announced its earnings results on Monday, August 10th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $1.28. Cannae had a negative net margin of 38.18% and a negative return on equity of 13.69%. The business had revenue of $102.20 million during the quarter, compared to analysts’ expectations of $99.65 million.

Cannae Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 16th. This represents a $0.60 annualized dividend and a yield of 3.9%. Cannae’s dividend payout ratio is -19.87%.

Institutional Investors Weigh In On Cannae

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNNE. Sanctuary Advisors LLC bought a new position in shares of Cannae in the second quarter worth about $401,000. Evolve Private Wealth LLC bought a new stake in shares of Cannae during the second quarter valued at approximately $413,000. Ieq Capital LLC bought a new stake in shares of Cannae during the second quarter valued at approximately $564,000. Callan Family Office LLC acquired a new stake in shares of Cannae in the second quarter valued at approximately $211,000. Finally, Allworth Financial LP acquired a new stake in shares of Cannae in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cannae Company Profile

Cannae Holdings, Inc (NYSE: CNNE) is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae’s investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.