Cannae Holdings, Inc. (NYSE:CNNE) to Issue $0.12 Quarterly Dividend

Cannae Holdings, Inc. (NYSE:CNNE) announced 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 yield of 2.51%.

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. 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 Performance

Shares of NYSE CNNE opened at $19.16 on Monday. The company has a market cap of $1.20 billion, a P/E ratio of -3.98 and a beta of 0.86. Cannae has a 52-week low of $16.94 and a 52-week high of $22.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. The firm’s fifty day moving average is $19.56 and its two-hundred day moving average is $19.68.

Analysts Set New Price Targets

Separately, Royal Bank of Canada increased their price target on shares of Cannae from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, November 14th.

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.