CIT Group Given Average Recommendation of “Hold” by Brokerages (NYSE:CIT)
CIT Group (NYSE:CIT) has received a consensus rating of “Hold” from the fifteen analysts that are currently covering the stock, AR Network reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $52.73.
CIT Group (NYSE:CIT) opened at 47.96 on Tuesday. CIT Group has a one year low of $41.06 and a one year high of $52.72. The stock’s 50-day moving average is $47.67 and its 200-day moving average is $46.60. The company has a market cap of $8.904 billion and a price-to-earnings ratio of 13.64.
CIT Group (NYSE:CIT) last announced its earnings results on Tuesday, July 22nd. The company reported $1.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.89 by $0.40. During the same quarter last year, the company posted $0.91 earnings per share. Analysts expect that CIT Group will post $3.63 EPS for the current fiscal year.
CIT has been the subject of a number of recent research reports. Analysts at Morgan Stanley upgraded shares of CIT Group from a “neutral” rating to a “positive” rating in a research note on Thursday, August 21st. They now have a $48.00 price target on the stock, down previously from $50.00. Separately, analysts at Credit Suisse cut their price target on shares of CIT Group from $50.00 to $48.00 in a research note on Thursday, August 21st. They now have a “neutral” rating on the stock. Finally, analysts at SunTrust raised their price target on shares of CIT Group from $45.00 to $54.00 in a research note on Friday, August 1st.
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.
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