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

Cannae Holdings, Inc. (NYSE:CNNE) declared a quarterly dividend on Monday, February 24th, RTT News reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Monday, March 17th.

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. 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 Trading Down 0.3 %

CNNE stock opened at $19.14 on Wednesday. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -3.98 and a beta of 0.87. The business has a fifty day simple moving average of $19.53 and a 200-day simple moving average of $19.68. Cannae has a 52 week low of $16.94 and a 52 week high of $22.99.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada lifted their price objective on Cannae from $26.00 to $27.00 and gave the company 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.