Financial Results and Performance
Cannae Holdings (NYSE:CNNE) announced its financial results for the recent quarter, revealing a net loss of ($3.93) per share, which significantly missed analyst forecasts by $3.62. The company's revenue declined by 6.6% compared to the same period last year, accompanied by a negative return on equity of 4.86% and a net profit margin of 73.64%. In response to its financial performance, Cannae raised its quarterly dividend from $0.12 to $0.15, offering an annual yield of 3.0%.
Stock Performance
On Monday, Cannae's stock traded higher by $0.21, reaching a midday price of $20.09, with a trading volume of 688,224 shares. Over the past year, the stock's lowest point was $15.91, and the highest was $22.36. Its 50-day moving average stands at $20.66, while the 200-day average is $19.10. The company's financial position remains stable with a debt-to-equity ratio of 0.04 and a quick ratio of 4.19.
Dividend Announcement
Furthermore, Cannae announced a quarterly dividend payable on September 30th to shareholders recorded as of September 16th. The dividend, set at $0.15 per share, reflects an annualized payout of $0.60 an...