Cannae (NYSE:CNNE) Announces Quarterly Earnings Results

Cannae (NYSE:CNNE) issued its quarterly earnings results on Monday. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of ($0.42) by $1.28, FiscalAI reports. Cannae had a negative return on equity of 36.53% and a negative net margin of 103.77%.The company had revenue of $102.20 million during the quarter, compared to the consensus estimate of $99.65 million.

Here are the key takeaways from Cannae’s conference call:

• Capital allocation flexibility improved following the $90 million Watkins sale and elimination of the Brasada put right; Cannae ended July with $124 million of corporate cash and expects to resume opportunistic share repurchases in the second half of 2026.
• AFC Bournemouth achieved its highest-ever Premier League finish, qualified for the UEFA Europa League, and is expanding its stadium capacity and hospitality offerings, which management expects to support broadcast, commercial, and brand revenue growth.
• Corporate holding-company expenses fell 85% year over year in the quarter and are expected to remain materially lower for the rest of the year, reflecting reduced management and transition costs.
• The restaurant group remains under strategic review amid declining traffic, O’Charley’s store closures, and $45 million of impairment charges, including $32 million of goodwill impairment; management said financing delays have pushed out the expected transaction timeline.
• SpaceX’s IPO generated an $83.4 million mark-to-market gain, but future earnings may be volatile as Cannae revalues the investment, while the company evaluates the timing of potential liquidity under a tiered lockup.

Cannae Price Performance

CNNE opened at $14.71 on Tuesday. The company has a fifty day simple moving average of $14.51 and a 200 day simple moving average of $13.55. The firm has a market cap of $646.36 million, a price-to-earnings ratio of -1.88 and a beta of 1.20. Cannae has a twelve month low of $10.46 and a twelve month high of $20.23. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.07.

Cannae Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.1%. Cannae’s dividend payout ratio is -7.68%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Stephens reiterated an “overweight” rating and set a $17.00 target price on shares of Cannae in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cannae in a research note on Monday, July 6th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Cannae in a report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.00.

Hedge Funds Weigh In On Cannae

A number of institutional investors have recently added to or reduced their stakes in the company. Rubric Capital Management LP grew its stake in shares of Cannae by 41.3% during the second quarter. Rubric Capital Management LP now owns 2,105,864 shares of the company’s stock valued at $43,907,000 after acquiring an additional 615,616 shares in the last quarter. State of Wisconsin Investment Board lifted its stake in shares of Cannae by 109.6% in the fourth quarter. State of Wisconsin Investment Board now owns 815,918 shares of the company’s stock worth $12,834,000 after acquiring an additional 426,736 shares in the last quarter. Jane Street Group LLC boosted its holdings in Cannae by 467.8% in the fourth quarter. Jane Street Group LLC now owns 468,356 shares of the company’s stock valued at $7,367,000 after purchasing an additional 385,865 shares during the last quarter. Saba Capital Management L.P. boosted its holdings in Cannae by 23.3% in the fourth quarter. Saba Capital Management L.P. now owns 1,714,994 shares of the company’s stock valued at $26,977,000 after purchasing an additional 323,531 shares during the last quarter. Finally, ExodusPoint Capital Management LP purchased a new position in Cannae in the fourth quarter valued at about $2,895,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

About Cannae

Cannae Holdings, Inc (NYSE: CNNE) is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae’s investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.