Cannae Holdings, Inc. (NYSE:CNNE) Declares Quarterly Dividend of $0.12

by · The Cerbat Gem

Cannae Holdings, Inc. (NYSE:CNNE – Get Free Report) announced a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Investors of record on Tuesday, December 17th will be paid a dividend of 0.12 per share on Tuesday, December 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Tuesday, December 17th.

Cannae has a payout ratio of -65.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Cannae to earn ($0.68) 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 -70.6%.

Cannae Price Performance

NYSE CNNE traded down $0.03 during trading hours on Friday, reaching $20.94. 213,319 shares of the stock traded hands, compared to its average volume of 537,369. The stock has a 50 day simple moving average of $19.21 and a two-hundred day simple moving average of $19.14. Cannae has a 1 year low of $16.94 and a 1 year high of $22.99. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -3.10 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.01 and a quick ratio of 1.01.

Cannae (NYSE:CNNE – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($2.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($2.32). The business had revenue of $118.00 million during the quarter, compared to the consensus estimate of $112.00 million. Cannae had a negative return on equity of 14.30% and a negative net margin of 93.69%. The firm’s revenue for the quarter was down 22.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.16) earnings per share. On average, analysts predict that Cannae will post -3.03 EPS for the current fiscal year.

About Cannae

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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.

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