Cannae Holdings, Inc. (NYSE:CNNE) to Issue $0.12 Quarterly Dividend

Cannae Holdings, Inc. (NYSE:CNNE) announced a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Tuesday, December 17th will be given a dividend of 0.12 per share on Tuesday, December 31st. This represents a $0.48 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Tuesday, December 17th.

Cannae has a dividend payout ratio of -42.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Cannae to earn ($1.17) per share next year, which means the company may not be able to cover its $0.48 annual dividend with an expected future payout ratio of -41.0%.

Cannae Stock Performance

Shares of NYSE CNNE opened at $20.56 on Friday. The stock has a market capitalization of $1.29 billion, a P/E ratio of -4.27 and a beta of 0.85. The firm’s 50-day moving average price is $20.16 and its two-hundred day moving average price is $19.31. Cannae has a 52-week low of $16.94 and a 52-week high of $22.99. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.10.

Cannae (NYSE:CNNE) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.22). Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. The business had revenue of $113.90 million during the quarter, compared to analyst estimates of $105.67 million. During the same quarter in the previous year, the firm posted ($2.18) EPS. The business’s revenue for the quarter was down 20.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Cannae will post -3.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lifted their price objective on shares of Cannae from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th.

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 was founded in 2014 and is based in Las Vegas, Nevada.