Cannae Holdings, Inc. (CNNE) to Issue Quarterly Dividend of $0.12 on March 31st

Cannae Holdings, Inc. (NYSE:CNNE) announced a quarterly dividend on Monday, February 24th, RTT News reports. Investors of record on Monday, March 17th will be paid a dividend of 0.12 per share on Monday, March 31st. This represents a $0.48 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Monday, March 17th.

Cannae has a dividend payout ratio of -44.0% 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 Price Performance

Shares of NYSE CNNE opened at $16.34 on Friday. 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 fifty day moving average price of $19.02 and a 200 day moving average price of $19.56. Cannae has a 1-year low of $15.99 and a 1-year high of $22.99. The company has a market cap of $1.03 billion, a PE ratio of -3.40 and a beta of 0.86.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Oppenheimer decreased their price target on Cannae from $27.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Royal Bank of Canada decreased their price target on Cannae from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th.

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.