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

Cannae (NYSE:CNNE) had its target price boosted by Royal Bank of Canada from $26.00 to $27.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

Cannae Stock Down 0.7 %

CNNE opened at $20.29 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.55 and a quick ratio of 1.01. Cannae has a 12 month low of $16.94 and a 12 month high of $22.99. The stock’s 50 day moving average price is $19.38 and its 200 day moving average price is $19.18. The stock has a market cap of $1.27 billion, a P/E ratio of -4.22 and a beta of 0.87.

Cannae (NYSE:CNNE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.22). Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. The firm had revenue of $113.90 million during the quarter, compared to analyst estimates of $105.67 million. During the same quarter in the prior year, the firm posted ($2.18) EPS. Cannae’s revenue was down 20.7% compared to the same quarter last year. As a group, research analysts predict that Cannae will post -3.03 earnings per share for the current year.

Cannae Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.12 dividend. 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%.

Hedge Funds Weigh In On Cannae

Several hedge funds have recently modified their holdings of CNNE. Barclays PLC lifted its holdings in shares of Cannae by 221.9% in the third quarter. Barclays PLC now owns 95,378 shares of the company’s stock valued at $1,818,000 after buying an additional 65,749 shares during the period. Y Intercept Hong Kong Ltd raised its position in Cannae by 9.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 20,133 shares of the company’s stock worth $384,000 after acquiring an additional 1,789 shares in the last quarter. MML Investors Services LLC lifted its holdings in Cannae by 10.7% in the 3rd quarter. MML Investors Services LLC now owns 38,871 shares of the company’s stock valued at $741,000 after acquiring an additional 3,771 shares during the last quarter. State Street Corp boosted its position in shares of Cannae by 1.6% during the 3rd quarter. State Street Corp now owns 1,605,351 shares of the company’s stock valued at $30,598,000 after purchasing an additional 25,403 shares in the last quarter. Finally, Maven Securities LTD acquired a new position in shares of Cannae in the 3rd quarter worth approximately $358,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

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.