CIT Group Receives New Coverage from Analysts at Macquarie (CIT)
Stock analysts at Macquarie began coverage on shares of CIT Group (NYSE:CIT) in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set an “underperform” rating on the stock.
CIT has been the subject of a number of other recent research reports. Analysts at Boenning Scattergood reiterated an “outperform” rating on shares of CIT Group in a research note on Friday, June 27th. They now have a $53.50 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of CIT Group in a research note on Friday, June 13th. They now have a $47.00 price target on the stock. Finally, analysts at TheStreet downgraded shares of CIT Group from a “hold” rating to a “sell” rating in a research note on Monday, May 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $52.50.
Shares of CIT Group (NYSE:CIT) traded down 1.84% during mid-day trading on Wednesday, hitting $44.28. 319,205 shares of the company’s stock traded hands. CIT Group has a one year low of $41.06 and a one year high of $52.72. The stock has a 50-day moving average of $45.09 and a 200-day moving average of $47.04. The company has a market cap of $8.566 billion and a P/E ratio of 14.39.
CIT Group (NYSE:CIT) last announced its earnings results on Tuesday, April 29th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by $0.31. During the same quarter in the previous year, the company posted $0.81 earnings per share. On average, analysts predict that CIT Group will post $3.15 earnings per share for the current fiscal year.
CIT Group Inc is a bank holding company (NYSE:CIT) together with its owned subsidiaries (CIT), provides primarily commercial financing and leasing products and other services to small and middle market businesses across a range of industries.