Cannae Holdings NYSE:CNNE Stock Price News

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Regional bank shares rebounded on Wednesday, helping market sentiment, as Western Alliance Bancorp detailed improving deposit growth. The SPDR S&P Regional Bank ETF jumped 3.4%, while Western Alliance soared 12%. Concerns over a potential default has weighed on markets recently. The Dow is down more than 3% this month, including a 1% decline on Tuesday. In fact, the recent purchase by Richard Massey was the biggest purchase of Cannae Holdings shares made by an insider individual in the last twelve months, according to our records.

CNNE

That’s in line with the 1.4 million expected by analysts polled by Dow Jones. The comments come a day after President Joe Biden met with top congressional leaders to try to find a way around the debt impasse. «The update is another data point that demonstrates WAL is distancing itself from recent industry turmoil and should be well received by market,» Jefferies analyst Casey Haire said. The bank said in an 8K filing on Tuesday that customer deposits have grown by more than $2 billion throughout the quarter.

Shares of Western Alliance climbed 10.3% on the analyst notes. Consumer discretionary stocks led the S&P 500 on Wednesday, with the sector up more than 1.5%. During the meeting, Musk teased new Tesla products, while also reiterating plans to roll out the first Cybertrucks this year. He also noted that the company faces some difficult months ahead. Biden’s remarks underscore earlier comments from House Speaker Kevin McCarthy, who told CNBC in an interview that he doesn’t think the U.S. will default on its debt. Congressional leaders have been in tense negotiations with the White House over the approaching debt ceiling.

Singapore’s non-oil domestic exports in April grew 2.7% compared to the month before, a surprise upside compared to the 3% contraction that economists polled by Reuters were expecting. «While McCarthy said a deal is possible by end of this week, the timeline may be by the end of next week ahead of the Memorial Day,» JPMorgan traders wrote. «With that in mind, Equities may trade in a tight range until an outcome is observed with the biggest downside risk coming if we enter Memorial Day weekend without a solution, given the early June x-date.» A look under the hood in stocks continues to build on the bear case, according to Wolfe Research. «I think at the end of the day we do not have a debt default,» he said on CNBC’s «Squawk Box.» «I think we finally got the president to agree to negotiate.» To see more companies moving in the premarket, read the full story here.

The Barchart Technical Opinion widget shows you today’s overally Barchart Opinion with general information on how to interpret the short and longer term signals. Unique to Barchart.com, Opinions analyzes a stock or commodity using 13 popular analytics in short-, medium- and long-term periods. Results are interpreted as buy, sell or hold signals, each with numeric ratings and summarized with an overall percentage buy or sell rating. After each calculation the program assigns a Buy, Sell, or Hold value with the study, depending on where the price lies in reference to the common interpretation of the study.

Here are two stocks that could be worth a look for patient long-term investors. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes. Data may be intentionally delayed pursuant to supplier requirements.

Cannae Holdings, Inc. Announces First Quarter 2023 Earnings Release Date and Conference Call

Of course, past events never guarantee future results, but investors should view the current environment as a buying opportunity regardless of whether the stock market rises or falls in the near term. For the full fiscal year, the company said to expect between $500 million and $506 million in revenue, a range that contains the Wall Street estimate of $501.8 million. The company expects adjusted EBITDA for the year to come in between $216 million and $222 million, while analysts anticipate $215.7 million.

CoreLogic Inc. said Tuesday that its board of directors has unanimously rejected the increased unsolicited buyout bid from Senator Investment Group L.P.

Why Cannae Holdings Could Rise 47%

That creates a very attractive buying opportunity for patient investors. That information hints at possibly big gains in the not-too-distant future. The S&P 500 dropped 19.4% in 2022, and it has rebounded 7.4% in 2023. But if this year falls in line with the median, the index will rise another 12.6% before the end of 2023.

• They rarely distribute dividends to shareholders, opting for reinvestment in their businesses.
• For the full fiscal year, the company said to expect between $500 million and $506 million in revenue, a range that contains the Wall Street estimate of $501.8 million.
• That information hints at possibly big gains in the not-too-distant future.
• We aim to bring you long-term focused analysis driven by fundamental data.

A stock’s beta measures how closely tied its price movements have been to the performance of the overall market. Specifically, PayPal has more insight into consumer spending habits compared to many peers. It uses that data to drive sales and prevent fraud for its merchants, and it does those things quite well. In fact, CEO Dan Schulman says PayPal has the lowest loss rates and the highest approval rate in the industry. In turn, PayPal has become the most accepted digital wallet in North America and Europe, and the market leader in online payment processing software, according to Statista. Western Alliance shares have been on a recent upswing, up 17% over the past week – and posting a gain of 15% since this week has begun.

2 Wall Street analysts have issued 12-month price objectives for Cannae’s shares. Their CNNE share price forecasts range from $28.00 to $42.00. On average, they expect the company’s share price to reach $35.33 in the next year. This suggests a possible upside of 87.5% from the stock’s current price. View analysts price targets for CNNE or view top-rated stocks among Wall Street analysts. But, for CNNE, an impressive average price target is not the only indicator of a potential upside.

While the lowest estimate of $28 indicates a 48.6% increase from the current price level, the most optimistic analyst expects the stock to surge 107% to reach $39. It’s very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts. Going by the price targets, the mean estimate of $34 indicates a potential upside of 80.5%. 2 Wall Street equities research analysts have issued «buy,» «hold,» and «sell» ratings for Cannae in the last year.

News & Analysis

Western Alliance said its deposits grew by more than $2 billion so far this quarter. Its shares gained, along with those of PacWest, Comerica and Zions. Stocks are higher in Wednesday afternoon trading, putting major indexes on track to recover after falling Tuesday, as the deadline nears for lawmakers to resolve the debt-ceiling standoff. The Dow ended the trading session below a key threshold on Tuesday.

• Singapore’s non-oil domestic exports in April grew 2.7% compared to the month before, a surprise upside compared to the 3% contraction that economists polled by Reuters were expecting.
• One share of CNNE stock can currently be purchased for approximately $18.84.
• A comps analysis is simple to set up, and it can lead you to interesting new investment ideas.
• Shares of CoreLogic Inc. soared 20% in premarket trading Friday, after Cannae Holdings Inc. and Senator Investment Group L.P.
• That’s because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Barclays upgraded Wynn Resorts stock on Tuesday, and cited the company’s continued performance in Macau as a driver for growth. Recent stocks from this report have soared up to +178.7% in 3 months – this month’s picks could be even better. Cannae Holdings Inc. ( CNNE , Financial) is a diversified holding company led by William P. Foley, II that offers shareholders the opportunity to invest in a variety of public and private companies. A comps analysis is simple to set up, and it can lead you to interesting new investment ideas.

The consensus among Wall Street equities research analysts is that investors should «buy» CNNE shares. For the current quarter, the company said to expected between $2 and $2.06 in earnings per share for the current quarter, while analysts forecasted $1.96. Keysight guided revenue for the quarter to come in between $1.37 billion and $1.39 billion, a range that contains Wall Street’s consensus estimate of $1.38 billion. High-growth stocks tend to represent the technology, healthcare, and communications sectors.

Home prices in China fell, with prices 0.2% lower year-on-year, compared to a 0.8% decline seen in the previous month, according to Reuters’ calculations. «The comes a moment in time when you hit the wall,» McCarthy said. «You can’t continue down this trajectory if you want to continue to be the strongest nation in the world.» Of the 11 S&P 500 sectors, only health care, consumer staples and utilities were trading in negative territory during midday trading. Sam Stovall, chief investment strategist at CFRA Research, said he expects that markets are stuck in neutral, even as the news becomes «more and more optimistic» on the debt ceiling.

Brent Nyitray, CFA
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