Cannae Holdings Inc (NYSE:CNNE) Receives Average Rating of “Strong Buy” from Analysts

Shares of Cannae Holdings Inc (NYSE:CNNE) have received an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.

Brokers have set a twelve-month consensus target price of $31.50 for the company and are anticipating that the company will post $0.07 EPS for the current quarter, according to Zacks. Zacks has also assigned Cannae an industry rank of 148 out of 256 based on the ratings given to related companies.

A number of research analysts have recently weighed in on CNNE shares. TheStreet raised shares of Cannae from a “c” rating to a “b” rating in a research note on Friday, March 15th. Zacks Investment Research raised shares of Cannae from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Thursday, March 14th.

Cannae stock traded down $0.15 during mid-day trading on Friday, reaching $28.32. The company had a trading volume of 1,993 shares, compared to its average volume of 261,642. Cannae has a 1 year low of $15.87 and a 1 year high of $30.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.18 and a quick ratio of 1.02. The company has a market cap of $2.10 billion, a P/E ratio of 40.99 and a beta of 0.77. The business’s 50-day simple moving average is $26.98.

Cannae (NYSE:CNNE) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.13). Cannae had a return on equity of 4.65% and a net margin of 2.89%. The business had revenue of $274.50 million for the quarter, compared to analysts’ expectations of $296.85 million. During the same period last year, the business earned ($0.02) earnings per share. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, analysts anticipate that Cannae will post 0.18 earnings per share for the current fiscal year.

In other news, Director Richard N. Massey bought 20,000 shares of the stock in a transaction on Monday, May 13th. The stock was purchased at an average cost of $25.15 per share, with a total value of $503,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 7.20% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC purchased a new stake in Cannae in the 1st quarter worth approximately $71,000. PNC Financial Services Group Inc. boosted its holdings in shares of Cannae by 13.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,816 shares of the company’s stock valued at $133,000 after purchasing an additional 949 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Cannae by 10.0% in the 4th quarter. SG Americas Securities LLC now owns 13,743 shares of the company’s stock valued at $235,000 after purchasing an additional 1,246 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Cannae by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 22,337 shares of the company’s stock valued at $382,000 after purchasing an additional 17,445 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Cannae by 183.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 15,844 shares of the company’s stock valued at $384,000 after purchasing an additional 10,262 shares during the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.

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 is based in Las Vegas, Nevada.

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