Media coverage about CIT Group Inc (DEL) (NYSE:CIT) has been trending somewhat positive this week, Accern Sentiment Analysis reports. The research group scores the sentiment of news coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. CIT Group Inc (DEL) earned a coverage optimism score of 0.14 on Accern’s scale. Accern also gave news articles about the financial services provider an impact score of 46.8455639979157 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the news articles that may have effected Accern’s rankings:
- IHS Markit Score downgrades CIT Group Inc to 48 out of 100, ranking positively in only two out of four IHS Markit categories. (finance.yahoo.com)
- Zacks: Brokerages Anticipate CIT Group Inc (DEL) (CIT) Will Post Earnings of $0.78 Per Share (americanbankingnews.com)
- Thompson Siegel & Walmsley LLC Sold A Little More CIT Group Inc (DEL) (CIT) Stock Last Quarter - First News 24 (firstnewspaper24.com)
- Thompson Siegel & Walmsley LLC Adjusts Its Investment in CIT Group Inc (DEL) (CIT) - First News 24 (firstnewspaper24.com)
- CIT Group Inc (DEL) (CIT) Ownership Decreased by Thompson Siegel & Walmsley LLC - First News 24 (firstnewspaper24.com)
A number of analysts have issued reports on CIT shares. Zacks Investment Research downgraded CIT Group Inc (DEL) from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Credit Suisse Group reissued a “hold” rating and issued a $48.00 target price on shares of CIT Group Inc (DEL) in a research report on Sunday, July 2nd. BMO Capital Markets reissued a “sell” rating and issued a $30.00 target price on shares of CIT Group Inc (DEL) in a research report on Friday, June 16th. Bank of America Corporation raised CIT Group Inc (DEL) from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 26th. Finally, CIBC reissued an “outperform” rating on shares of CIT Group Inc (DEL) in a research report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $45.96.
CIT Group Inc (NYSE CIT) opened at 46.30 on Friday. CIT Group Inc has a 12 month low of $34.38 and a 12 month high of $50.40. The stock’s market capitalization is $6.27 billion. The stock has a 50 day moving average price of $48.41 and a 200 day moving average price of $45.20.
CIT Group Inc (DEL) (NYSE:CIT) last announced its earnings results on Tuesday, July 25th. The financial services provider reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.08. CIT Group Inc (DEL) had a positive return on equity of 5.66% and a negative net margin of 20.50%. The company had revenue of $605 million for the quarter, compared to analysts’ expectations of $500.05 million. During the same period last year, the firm earned $0.07 EPS. CIT Group Inc (DEL)’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, equities research analysts forecast that CIT Group Inc will post $2.77 earnings per share for the current fiscal year.
CIT Group Inc (DEL) announced that its Board of Directors has initiated a share buyback program on Thursday, April 27th that allows the company to repurchase $2.75 billion in shares. This repurchase authorization allows the financial services provider to buy up to 29.5% of its stock through a dutch auction. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $0.60 dividend on an annualized basis and a yield of 1.30%. CIT Group Inc (DEL)’s payout ratio is presently -18.02%.
In other CIT Group Inc (DEL) news, EVP Edward K. Sperling sold 4,480 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $45.76, for a total value of $205,004.80. Following the completion of the sale, the executive vice president now owns 10,562 shares in the company, valued at approximately $483,317.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James L. Hudak sold 2,250 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $44.50, for a total value of $100,125.00. Following the completion of the sale, the insider now owns 59,621 shares of the company’s stock, valued at approximately $2,653,134.50. The disclosure for this sale can be found here. Insiders sold a total of 15,974 shares of company stock valued at $726,471 in the last quarter. 0.47% of the stock is currently owned by company insiders.
COPYRIGHT VIOLATION NOTICE: “Somewhat Favorable Media Coverage Somewhat Unlikely to Impact CIT Group Inc (DEL) (CIT) Stock Price” was reported by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://stocknewstimes.com/2017/08/12/somewhat-favorable-media-coverage-somewhat-unlikely-to-impact-cit-group-inc-del-cit-stock-price.html.
About CIT Group Inc (DEL)
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.
Receive News & Ratings for CIT Group Inc (DEL) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CIT Group Inc (DEL) and related companies with MarketBeat.com's FREE daily email newsletter.
