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

Cannae Holdings, Inc. (NYSE:CNNE) declared a quarterly dividend on Thursday, May 7th. Stockholders of record on Tuesday, June 16th will be paid a dividend of 0.15 per share on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Tuesday, June 16th.

Cannae has a dividend 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. Equities research analysts expect Cannae to earn ($2.06) per share next year, which means the company may not be able to cover its $0.60 annual dividend with an expected future payout ratio of -29.1%.

Cannae Trading Down 1.8%

Shares of CNNE stock opened at $14.39 on Friday. The firm has a market cap of $632.21 million, a P/E ratio of -1.84 and a beta of 1.19. Cannae has a 1-year low of $10.46 and a 1-year high of $21.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.71 and a quick ratio of 1.71. The firm’s 50-day simple moving average is $13.52 and its 200-day simple moving average is $14.02.

Cannae (NYSE:CNNE) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.30). The company had revenue of $96.20 million for the quarter, compared to analysts’ expectations of $99.77 million. Cannae had a negative return on equity of 36.53% and a negative net margin of 103.77%.The company’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.81) earnings per share. As a group, equities analysts forecast that Cannae will post -2.4 EPS for the current year.

Wall Street Analysts Forecast Growth

CNNE has been the topic of several recent analyst reports. Stephens reiterated an “overweight” rating and set a $17.00 price objective on shares of Cannae in a report on Thursday, April 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cannae in a report on Wednesday, April 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Cannae in a report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Cannae has a consensus rating of “Hold” and a consensus target price of $17.00.

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.