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

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 given a dividend of 0.12 per share on Monday, March 31st. This represents a $0.48 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Monday, March 17th.

Cannae has a dividend 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. Equities 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 Stock Down 0.3 %

Shares of NYSE:CNNE 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 capitalization of $1.20 billion, a P/E ratio of -3.98 and a beta of 0.87. Cannae has a 52-week low of $16.94 and a 52-week high of $22.99. The stock’s fifty day simple moving average is $19.53 and its 200-day simple moving average is $19.68.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lifted their price target on shares of Cannae from $26.00 to $27.00 and gave the stock an “outperform” rating in a report 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.