CIT Group (NYSE:CIT) will be releasing its earnings data before the market opens on Tuesday, April 23rd. Analysts expect CIT Group to post earnings of $1.09 per share for the quarter.
CIT Group (NYSE:CIT) last issued its quarterly earnings data on Tuesday, January 29th. The financial services provider reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.11. The company had revenue of $421.00 million for the quarter, compared to analysts’ expectations of $507.00 million. CIT Group had a return on equity of 7.80% and a net margin of 13.66%. During the same quarter in the previous year, the firm posted $0.99 earnings per share. On average, analysts expect CIT Group to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Shares of CIT opened at $50.11 on Tuesday. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 1.03 and a beta of 1.47. CIT Group has a 12 month low of $35.50 and a 12 month high of $55.78. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.04 and a current ratio of 1.04.
A number of brokerages have commented on CIT. ValuEngine upgraded CIT Group from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Oppenheimer boosted their price objective on CIT Group from $49.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 30th. Zacks Investment Research cut CIT Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. TheStreet upgraded CIT Group from a “c+” rating to a “b” rating in a research note on Monday, March 25th. Finally, UBS Group upgraded CIT Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $53.29.
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CIT Group Company Profile
CIT Group Inc operates as the holding company for CIT Bank, N.A. that provides banking and related services to commercial and individual customers. The company operates through Commercial Banking and Consumer Banking segments. The Commercial Banking segment offers lending, leasing, and other financial and advisory services primarily to small and middle-market companies; factoring, receivables management products, and secured supply chain financing; equipment leasing and secured financing to railroads and non-rail companies; equipment financing to small businesses.
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