Cannae (CNNE) to Release Quarterly Earnings on Monday

Cannae (NYSE:CNNEGet Rating) is set to release its earnings data after the market closes on Monday, May 9th. Analysts expect Cannae to post earnings of ($0.20) per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Cannae (NYSE:CNNEGet Rating) last issued its quarterly earnings results on Thursday, February 17th. The company reported ($1.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($1.10). The business had revenue of $181.90 million for the quarter, compared to analysts’ expectations of $200.40 million. Cannae had a negative return on equity of 8.18% and a negative net margin of 38.67%. During the same quarter in the prior year, the business earned ($0.06) EPS. On average, analysts expect Cannae to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Shares of Cannae stock opened at $22.40 on Monday. The company’s fifty day simple moving average is $24.40 and its 200-day simple moving average is $29.63. The stock has a market capitalization of $1.94 billion, a PE ratio of -6.98 and a beta of 0.80. Cannae has a 1-year low of $21.81 and a 1-year high of $40.40.

Separately, Zacks Investment Research upgraded shares of Cannae from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 19th.

In other news, CEO Richard N. Massey bought 10,000 shares of the stock in a transaction that occurred on Tuesday, February 22nd. The shares were bought at an average price of $26.40 per share, for a total transaction of $264,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Barry B. Moullet bought 2,000 shares of the stock in a transaction that occurred on Wednesday, February 23rd. The shares were purchased at an average price of $25.51 per share, for a total transaction of $51,020.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 41,000 shares of company stock worth $1,016,230 and have sold 764,193 shares worth $10,667,088. Company insiders own 5.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in Cannae by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 378,341 shares of the company’s stock valued at $11,771,000 after acquiring an additional 5,725 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Cannae by 28.9% in the 4th quarter. Wells Fargo & Company MN now owns 242,334 shares of the company’s stock valued at $8,518,000 after acquiring an additional 54,286 shares during the last quarter. Legal & General Group Plc increased its holdings in Cannae by 22.0% in the 4th quarter. Legal & General Group Plc now owns 225,503 shares of the company’s stock valued at $7,926,000 after acquiring an additional 40,658 shares during the last quarter. Invesco Ltd. increased its holdings in Cannae by 9.8% in the 4th quarter. Invesco Ltd. now owns 221,067 shares of the company’s stock valued at $7,770,000 after acquiring an additional 19,736 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Cannae by 83.9% in the 4th quarter. JPMorgan Chase & Co. now owns 116,344 shares of the company’s stock valued at $4,090,000 after acquiring an additional 53,067 shares during the last quarter. Institutional investors own 86.51% of the company’s stock.

About Cannae (Get Rating)

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.

Further Reading

Earnings History for Cannae (NYSE:CNNE)

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