Cannae (NYSE:CNNE) Price Target Raised to $27.00

Cannae (NYSE:CNNE) had its target price lifted by Royal Bank of Canada from $26.00 to $27.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Cannae Trading Down 0.7 %

Shares of CNNE stock opened at $20.29 on Thursday. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -4.22 and a beta of 0.87. The company has a quick ratio of 1.01, a current ratio of 2.55 and a debt-to-equity ratio of 0.10. Cannae has a fifty-two week low of $16.94 and a fifty-two week high of $22.99. The firm’s 50 day moving average price is $19.38 and its two-hundred day moving average price is $19.18.

Cannae (NYSE:CNNE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.22). The firm had revenue of $113.90 million for the quarter, compared to analysts’ expectations of $105.67 million. Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. Cannae’s revenue was down 20.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.18) earnings per share. On average, analysts anticipate that Cannae will post -2.97 EPS for the current year.

Cannae Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.48 dividend on an annualized basis and a yield of 2.37%. Cannae’s dividend payout ratio (DPR) is -9.98%.

Institutional Trading of Cannae

Hedge funds have recently made changes to their positions in the company. CWM LLC raised its stake in shares of Cannae by 1,616.0% during the second quarter. CWM LLC now owns 1,390 shares of the company’s stock valued at $25,000 after purchasing an additional 1,309 shares during the period. EntryPoint Capital LLC raised its stake in shares of Cannae by 48.9% during the first quarter. EntryPoint Capital LLC now owns 1,629 shares of the company’s stock valued at $36,000 after purchasing an additional 535 shares during the period. Innealta Capital LLC purchased a new stake in shares of Cannae during the second quarter valued at approximately $48,000. Oakview Capital Management L.P. purchased a new stake in shares of Cannae during the third quarter valued at approximately $67,000. Finally, nVerses Capital LLC purchased a new stake in shares of Cannae during the second quarter valued at approximately $71,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

About Cannae

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.