CIT Group Inc (DEL) (CIT) Getting Positive Press Coverage, Analysis Shows

News articles about CIT Group Inc (DEL) (NYSE:CIT) have been trending positive on Wednesday, Accern Sentiment reports. The research group scores the sentiment of press coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. CIT Group Inc (DEL) earned a news impact score of 0.31 on Accern’s scale. Accern also assigned media headlines about the financial services provider an impact score of 45.5793444418517 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

Several analysts have commented on CIT shares. BidaskClub lowered shares of CIT Group Inc (DEL) from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Morgan Stanley lifted their price objective on shares of CIT Group Inc (DEL) from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, September 18th. Zacks Investment Research raised shares of CIT Group Inc (DEL) from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Monday, September 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $47.00 price objective on shares of CIT Group Inc (DEL) in a research report on Tuesday, October 3rd. Finally, BMO Capital Markets reaffirmed a “sell” rating and issued a $31.00 price objective on shares of CIT Group Inc (DEL) in a research report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. CIT Group Inc (DEL) has an average rating of “Hold” and an average target price of $50.10.

CIT Group Inc (NYSE CIT) traded down $0.55 during midday trading on Wednesday, hitting $49.15. 762,111 shares of the stock traded hands, compared to its average volume of 1,955,130. CIT Group Inc has a one year low of $39.48 and a one year high of $51.19. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $6,637.76, a price-to-earnings ratio of 16.58 and a beta of 1.49.

CIT Group Inc (DEL) (NYSE:CIT) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.20. CIT Group Inc (DEL) had a negative net margin of 20.05% and a positive return on equity of 6.22%. The company had revenue of $592.90 million for the quarter, compared to analyst estimates of $488.00 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. equities research analysts expect that CIT Group Inc will post 3.2 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $0.64 annualized dividend and a dividend yield of 1.30%. This is a positive change from CIT Group Inc (DEL)’s previous quarterly dividend of $0.15. CIT Group Inc (DEL)’s payout ratio is -27.00%.

In other news, EVP Denise M. Menelly sold 8,951 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $46.84, for a total value of $419,264.84. Following the sale, the executive vice president now owns 41,546 shares of the company’s stock, valued at $1,946,014.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.

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CIT Group Inc (DEL) Company Profile

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.

Insider Buying and Selling by Quarter for CIT Group Inc (DEL) (NYSE:CIT)

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