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

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

Brokerages have set a 12 month consensus price objective of $31.50 for the company and are predicting that the company will post $0.20 earnings per share for the current quarter, according to Zacks. Zacks has also given Cannae an industry rank of 20 out of 255 based on the ratings given to related companies.

Several equities research analysts have recently commented on CNNE shares. ValuEngine downgraded Cannae from a “strong-buy” rating to a “buy” rating in a report on Monday, February 4th. Zacks Investment Research upgraded Cannae from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Tuesday, February 5th. Finally, TheStreet upgraded Cannae from a “c” rating to a “b” rating in a report on Friday, March 15th.

Institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can grew its holdings in Cannae by 7.8% during the fourth quarter. Great West Life Assurance Co. Can now owns 26,431 shares of the company’s stock worth $436,000 after buying an additional 1,923 shares in the last quarter. Teachers Advisors LLC boosted its position in Cannae by 23.4% in the third quarter. Teachers Advisors LLC now owns 255,468 shares of the company’s stock worth $5,352,000 after purchasing an additional 48,513 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Cannae by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,777,406 shares of the company’s stock worth $47,548,000 after purchasing an additional 155,878 shares during the last quarter. Wells Fargo & Company MN boosted its position in Cannae by 2.0% in the third quarter. Wells Fargo & Company MN now owns 196,153 shares of the company’s stock worth $4,110,000 after purchasing an additional 3,878 shares during the last quarter. Finally, MetLife Investment Advisors LLC purchased a new position in Cannae in the third quarter worth $1,001,000. Institutional investors and hedge funds own 82.00% of the company’s stock.

NYSE CNNE opened at $24.96 on Thursday. The company has a market cap of $1.80 billion, a PE ratio of 36.71 and a beta of 0.79. Cannae has a 52 week low of $15.87 and a 52 week high of $26.00. The company has a quick ratio of 2.68, a current ratio of 2.82 and a debt-to-equity ratio of 0.04.

Cannae (NYSE:CNNE) last released its quarterly earnings data on Thursday, March 14th. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $1.03. The firm had revenue of $317.20 million during the quarter, compared to the consensus estimate of $321.10 million. Cannae had a return on equity of 4.15% and a net margin of 2.28%. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, equities analysts anticipate that Cannae will post 0.4 earnings per share for the current fiscal year.

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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