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

Cannae Holdings, Inc. (NYSE:CNNE - Get Free Report) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Tuesday, December 17th.

Cannae has a 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. 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 Performance

Shares of CNNE traded up $0.04 during mid-day trading on Friday, hitting $21.01. The company's stock had a trading volume of 366,792 shares, compared to its average volume of 434,310. The stock's 50-day moving average is $19.23 and its two-hundred day moving average is $19.14. The firm has a market capitalization of $1.32 billion, a PE ratio of -3.10 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.01 and a current ratio of 1.01. Cannae has a one year low of $16.94 and a one year high of $22.99.

Cannae (NYSE:CNNE - Get Free Report) last issued its quarterly 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). The company had revenue of $118.00 million during the quarter, compared to the consensus estimate of $112.00 million. Cannae had a negative net margin of 93.69% and a negative return on equity of 14.30%. Cannae's revenue for the quarter was down 22.8% on a year-over-year basis. During the same period last year, the company earned ($1.16) earnings per share. As a group, sell-side analysts anticipate that Cannae will post -3.03 EPS for the current 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.