Cannae (NYSE:CNNE) Posts Quarterly Earnings Results, Misses Expectations By $0.29 EPS

Cannae (NYSE:CNNE) announced its earnings results on Monday. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.29), FiscalAI reports. The business had revenue of $1.90 million for the quarter, compared to analysts’ expectations of $92.25 million. Cannae had a negative net margin of 38.18% and a negative return on equity of 14.10%.

Cannae Stock Performance

CNNE traded down $0.09 on Monday, hitting $17.60. The company’s stock had a trading volume of 714,085 shares, compared to its average volume of 535,125. Cannae has a 12 month low of $10.46 and a 12 month high of $18.48. The firm has a market cap of $696.04 million, a P/E ratio of -5.83 and a beta of 1.19. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.07. The company’s 50 day simple moving average is $15.99 and its 200-day simple moving average is $14.27.

Cannae Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 17th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, December 17th. This represents a $0.60 annualized dividend and a yield of 3.4%. Cannae’s dividend payout ratio (DPR) is -19.87%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of Cannae from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, October 9th. Weiss Ratings cut shares of Cannae from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, October 8th. Finally, Wall Street Zen upgraded shares of Cannae from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cannae has an average rating of “Hold” and an average target price of $17.00.

Cannae Company Profile

Cannae Holdings, Inc is a diversified investment company that manages a portfolio of operating businesses and strategic investments. The company focuses on sectors including restaurants, financial services, payments, and business services, with the goal of building long-term value through active ownership and capital allocation.

Cannae has held interests in a range of companies, including restaurant operators, payment technology businesses, and providers of financial and business services.