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

Cannae Holdings, Inc. (NYSE:CNNE) 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 yield of 2.29%. The ex-dividend date of this dividend is Tuesday, December 17th.

Cannae has a dividend payout ratio of -65.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Stock Down 0.1 %

Cannae stock traded down $0.03 during midday trading on Friday, reaching $20.94. The stock had a trading volume of 213,319 shares, compared to its average volume of 537,369. The company has a market capitalization of $1.31 billion, a P/E ratio of -3.10 and a beta of 0.87. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.04. Cannae has a 12 month low of $16.94 and a 12 month high of $22.99. The company has a fifty day moving average price of $19.21 and a two-hundred day moving average price of $19.14.

Cannae (NYSE:CNNE) last announced its earnings results on Thursday, August 8th. The company reported ($2.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($2.32). Cannae had a negative return on equity of 14.30% and a negative net margin of 93.69%. The business had revenue of $118.00 million during the quarter, compared to analysts’ expectations of $112.00 million. During the same quarter in the previous year, the firm earned ($1.16) EPS. Cannae’s quarterly revenue was down 22.8% on a year-over-year basis. As a group, equities analysts expect that Cannae will post -3.03 EPS for the current fiscal year.

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.