Cannae Holdings, Inc. (CNNE) to Issue Quarterly Dividend of $0.15 on September 30th

Cannae Holdings, Inc. (NYSE:CNNE) declared a quarterly dividend on Thursday, August 6th. Shareholders of record on Wednesday, September 16th will be paid a dividend of 0.15 per share on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 16th.

Cannae has a payout ratio of -56.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Cannae Stock Down 0.4%

Shares of Cannae stock opened at $14.78 on Friday. The company has a market cap of $649.39 million, a P/E ratio of -1.89 and a beta of 1.20. The firm has a fifty day moving average of $14.51 and a two-hundred day moving average of $13.57. 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 one year low of $10.46 and a one year high of $20.23.

Cannae (NYSE:CNNE) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.30). Cannae had a negative return on equity of 36.53% and a negative net margin of 103.77%.The firm had revenue of $96.20 million for the quarter, compared to analysts’ expectations of $99.77 million. During the same period in the prior year, the company earned ($1.81) earnings per share. The company’s revenue for the quarter was down 6.8% on a year-over-year basis.

Wall Street Analyst Weigh In

CNNE has been the topic of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Cannae in a report on Thursday, April 23rd. Royal Bank Of Canada restated an “outperform” rating on shares of Cannae in a research report on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cannae in a research report on Monday, July 6th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.00.

About Cannae

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.