Insider Spends US$901k Buying More Shares In Cannae Holdings \

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Our experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next days. Therefore, while the consensus price target may not be a reliable indicator of how much CNNE could gain, the direction of price movement it implies does appear to be a good guide. Over the last 30 days, the Zacks Consensus Estimate for the current year has increased 30.8%, as one estimate has moved higher compared to no negative revision. Get this delivered to your inbox, and more info about our products and services. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services.

The pan-European Stoxx 600 index was down 0.2% at the start of the session, with most sectors and major bourses trading in negative territory. Financial services made the biggest losses, down 1.3%, followed by autos, which dropped 0.9%. Traders at JPMorgan expect the market to remain in a tight trading range as lawmakers try to reach a deal on the U.S. debt ceiling. April housing starts came in line with expectations, at 1.4 million.

Cannae Holdings, Inc. (CNNE)

Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. In its fiscal second quarter, the company reported $2.12 in earnings per share without items and $1.39 billion in revenue. By comparison, analysts polled by FactSet expected $1.96 per share and revenue to come in slightly lower at $1.38 billion. Analysts’ growing optimism over the company’s earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That’s because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. While that doesn’t necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.

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NYSE: CNNECannae Holdings Inc Stock Forecast, Predictions & Price Target

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The firm now rates Wynn Resorts stock as overweight with 31% upside compared to current trading levels. Barclays also highlighted the company’s performance in its Las Vegas properties. That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism. And the longer term insider transactions also give us confidence. However, we note that the company didn’t make a profit over the last twelve months, which makes us cautious.

We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters. Cannae Holdings, Inc. (CNNE) delivered earnings and revenue surprises of 387.50% and 0.42%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Recap: Cannae Holdings Q1 Earnings

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Wynn Resorts and Carnival shares outperformed, jumping nearly 6.5% and 5%, respectively. “Now we have a structure to find a way to come to a conclusion,” McCarthy told CNBC’s “Squawk Box” on Wednesday. “I think at the end of the day we do not have a debt default. I think we finally got the president to agree to negotiate.” Of course Cannae Holdings may not be the best stock to buy. So you may wish to see this free collection of high quality companies. A new and interesting company to keep an eye on if you are a fan of Berkshire-type companies.

Strong agreement among analysts about the company’s ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn’t gauge how much a stock could gain, it has proven to be powerful in predicting an upside. The company reported 20 cents in earnings per share excluding items, above the 17 cents expected by analysts. Revenue also beat expectations at $111 million compared with a $110.1 million forecast. Adjusted EBITDA came in at $48.9 million, ahead of the $45.7 consensus estimate. The mean estimate comprises three short-term price targets with a standard deviation of $5.57.

Treasury Secretary Janet Yellen has said that a default could come as early as June 1. “We had a productive meeting yesterday, and with all four leaders of the Congress – it was civil and respectful,” Biden said, speaking to the media. “And everyone came to the meeting, I think, in good faith. I’m confident that we’ll get the agreement on the budget, that America will not default.” The three major averages jumped to their highs of the day – briefly – after President Joe Biden said that the U.S. will not default on its debts Wednesday morning. On Wednesday morning, Biden said from the White House that he and the other lawmakers had a “productive” meeting, and will come to an agreement.

Once you factor in the high insider ownership, it certainly seems like insiders are positive about Cannae Holdings. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future. Ceridian HCM Holding , a human resources services portfolio company of Cannae Holdings Inc. , set terms for its initial public offering of common stock to raise up to $441 million. © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.

For example, a price above its moving average is generally considered an upward trend or a buy. Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. I reckon it’s a good sign if insiders own a significant number of shares in the company. Cannae Holdings insiders own 7.5% of the company, currently worth about US$106m based on the recent share price.

That implies that an insider found the current price of US$18.50 per share to be enticing. If someone buys shares at well below current prices, it’s a good sign on balance, but keep in mind they may no longer see value. Happily, the Cannae Holdings insider decided to buy shares at close to current prices. Richard Massey was the only individual insider to buy during the last year. PayPal stock currently trades at 2.5 times sales, its cheapest valuation in more than five years.

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similar fashion. Since its inception in 1957, the index has declined in 18 calendar years, but it has increased in 47 calendar years. Another noteworthy statistic is that the S&P 500 tends to rebound following a down year.

Shares of CoreLogic Inc. soared 20% in premarket trading Friday, after Cannae Holdings Inc. and Senator Investment Group L.P. Submit an unsolicited bid to buy CoreLogic for $65 a share, which would imply a market-capital… Cannae Holdings, Inc. (CNNE) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of a loss of $0.47. One share of CNNE stock can currently be purchased for approximately $18.84. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

• During the meeting, Musk teased new Tesla products, while also reiterating plans to roll out the first Cybertrucks this year.
• The company reported 20 cents in earnings per share excluding items, above the 17 cents expected by analysts.
• The comments come a day after President Joe Biden met with top congressional leaders to try to find a way around the debt impasse.

Indeed, the investment thesis centers around those products. PayPal operates one of the largest payment networks in the world, with 433 million active accounts. Few companies ever achieve adoption on that scale, and PayPal owes much of its success to its two-sided payments network. Most payment processors work only with merchants, but PayPal provides financial services to merchants and consumers, and that gives it an edge. Meanwhile, regional-bank shares are jumping after Western Alliance—a lender investors have worried about—gave a positive update on deposit growth. Shares of Western Alliance jumped about 7% in extended trading after the bank said that its deposit growth for the current quarter surpassed $2 billion as of May 12.