CIT Group (NYSE: CIT) has recently received a number of price target changes and ratings updates:
- 2/5/2018 – CIT Group had its price target raised by analysts at Credit Suisse Group AG from $50.00 to $54.00. They now have a “neutral” rating on the stock.
- 2/5/2018 – CIT Group had its price target raised by analysts at Morgan Stanley from $54.00 to $57.00. They now have an “equal weight” rating on the stock.
- 2/5/2018 – CIT Group was upgraded by analysts at BMO Capital Markets from an “underperform” rating to a “market perform” rating. They now have a $35.00 price target on the stock, down previously from $49.00.
- 1/31/2018 – CIT Group had its price target raised by analysts at Wells Fargo & Co from $52.00 to $53.00. They now have a “market perform” rating on the stock.
- 1/12/2018 – CIT Group was given a new $53.00 price target on by analysts at Barclays PLC. They now have a “hold” rating on the stock.
- 1/3/2018 – CIT Group was given a new $60.00 price target on by analysts at Stephens. They now have a “buy” rating on the stock.
- 1/2/2018 – CIT Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $55.00 price target on the stock. According to Zacks, “Shares of CIT Group have significantly underperformed the industry over the past three months. Yet, the company has surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. The company's business streamlining initiatives will likely improve efficiency, going forward. Further, with improving economy, demand for financing of inventories and capital equipment will continue to rise, thereby enabling the company to enhance earning assets. Also, given a solid capital and balance sheet position, the company is expected to continue to enhance shareholder value through efficient capital deployment activities. However, mounting expenses, worsening credit quality and sluggish growth in the industries where CIT Group provides finance continue to be key concerns.”
- 12/29/2017 – CIT Group had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $53.00 price target on the stock.
CIT Group Inc. (NYSE CIT) opened at $50.43 on Monday. The stock has a market capitalization of $6,624.13, a price-to-earnings ratio of 19.40 and a beta of 1.42. CIT Group Inc. has a fifty-two week low of $39.48 and a fifty-two week high of $53.76. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.20.
CIT Group (NYSE:CIT) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.18. The firm had revenue of $537.00 million during the quarter, compared to analyst estimates of $469.24 million. CIT Group had a return on equity of 6.84% and a net margin of 14.60%. CIT Group’s revenue was up 15.7% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. research analysts anticipate that CIT Group Inc. will post 4.24 EPS for the current year.
CIT Group Inc (CIT) is a bank holding company (BHC) and a financial holding company (FHC). The Company, together with its subsidiaries, provides financing, leasing and advisory services to middle market companies in a range of industries in North America. The Company’s segments include Commercial Banking, Consumer Banking, Non-Strategic Portfolios, and Corporate and Other.
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