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

Cannae Holdings, Inc. (NYSE:CNNE) announced a quarterly dividend on Monday, February 24th, RTT News reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.12 per share on Monday, March 31st. This represents a $0.48 annualized dividend and a yield of 2.51%.

Cannae has a payout ratio of -68.6% 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 ($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 Down 1.7 %

NYSE CNNE opened at $19.16 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.55 and a quick ratio of 2.55. The stock has a market capitalization of $1.20 billion, a PE ratio of -3.98 and a beta of 0.86. The business’s 50-day moving average is $19.56 and its 200 day moving average is $19.68. Cannae has a 1 year low of $16.94 and a 1 year high of $22.99.

Analysts Set New Price Targets

Separately, Royal Bank of Canada boosted their price objective on shares of Cannae from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note 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.