EPS for CIT Group Inc. (CIT) Expected At $0.97

June 24, 2018 - By Henry Gaston

CIT Group Inc. (NYSE:CIT) LogoInvestors sentiment decreased to 0.84 in 2018 Q1. Its down 0.06, from 0.9 in 2017Q4. It worsened, as 36 investors sold CIT Group Inc. shares while 93 reduced holdings. 39 funds opened positions while 70 raised stakes. 123.13 million shares or 4.80% less from 129.34 million shares in 2017Q4 were reported.
Wolverine Asset Management Lc reported 510 shares stake. Signaturefd Lc holds 0.01% of its portfolio in CIT Group Inc. (NYSE:CIT) for 872 shares. Moreover, Dimensional Fund Advsr Lp has 0.05% invested in CIT Group Inc. (NYSE:CIT). Voya Mgmt Lc reported 0% of its portfolio in CIT Group Inc. (NYSE:CIT). Lakewood Cap L P holds 5.13% of its portfolio in CIT Group Inc. (NYSE:CIT) for 3.06 million shares. Cibc Ww Markets owns 9,169 shares. Rhumbline Advisers holds 0.02% of its portfolio in CIT Group Inc. (NYSE:CIT) for 161,718 shares. State Board Of Administration Of Florida Retirement Sys stated it has 232,322 shares or 0.03% of all its holdings. Mutual Of America Management Ltd Liability Com accumulated 5,825 shares. Netherlands-based Shell Asset Mngmt has invested 0.01% in CIT Group Inc. (NYSE:CIT). Focused Wealth reported 0.09% stake. Bar Harbor, Maine-based fund reported 144,028 shares. Cap Fund Mngmt Sa stated it has 0.01% in CIT Group Inc. (NYSE:CIT). Spears Abacus Advsr Limited stated it has 595,292 shares. 183,878 are owned by Invesco Ltd.

Since March 1, 2018, it had 0 insider buys, and 3 selling transactions for $372,639 activity. HUDAK JAMES L also sold $107,268 worth of CIT Group Inc. (NYSE:CIT) on Thursday, March 1. The insider Stamps Sheila A sold 3,350 shares worth $174,585.

Analysts expect CIT Group Inc. (NYSE:CIT) to report $0.97 EPS on July, 24.They anticipate $0.07 EPS change or 7.78 % from last quarter’s $0.9 EPS. CIT’s profit would be $112.47M giving it 13.23 P/E if the $0.97 EPS is correct. After having $0.74 EPS previously, CIT Group Inc.’s analysts see 31.08 % EPS growth. The stock increased 0.96% or $0.49 during the last trading session, reaching $51.35. About 2.28M shares traded or 50.45% up from the average. CIT Group Inc. (NYSE:CIT) has risen 10.15% since June 24, 2017 and is uptrending. It has underperformed by 2.42% the S&P500.

CIT Group Inc. (NYSE:CIT) Ratings Coverage

Among 10 analysts covering CIT Group (NYSE:CIT), 3 have Buy rating, 0 Sell and 7 Hold. Therefore 30% are positive. CIT Group had 14 analyst reports since January 2, 2018 according to SRatingsIntel. The firm earned “Hold” rating on Tuesday, April 24 by BMO Capital Markets. The firm has “Market Perform” rating given on Monday, February 5 by BMO Capital Markets. The rating was maintained by Wells Fargo on Wednesday, January 31 with “Market Perform”. Keefe Bruyette & Woods maintained the shares of CIT in report on Sunday, February 4 with “Hold” rating. UBS initiated the stock with “Hold” rating in Tuesday, March 27 report. The rating was maintained by BMO Capital Markets with “Sell” on Tuesday, January 30. The rating was maintained by Credit Suisse with “Hold” on Monday, June 18. BTIG Research maintained the stock with “Buy” rating in Tuesday, April 24 report. Stephens maintained CIT Group Inc. (NYSE:CIT) rating on Tuesday, January 2. Stephens has “Buy” rating and $60.0 target. The stock has “Neutral” rating by Credit Suisse on Monday, February 5.

CIT Group Inc. operates as the bank holding firm for CIT Bank, National Association that provides banking and related services to commercial and individual customers. The company has market cap of $5.95 billion. The firm operates through Commercial Banking, Consumer Banking, Non-Strategic Portfolios , and Corporate and Other divisions. It has a 19.93 P/E ratio. The Commercial Banking segment offers lending, leasing, and other financial and advisory services primarily to small and middle-market companies; factoring and secured financing services, as well as receivables management products to the retail supply chain; and equipment leasing and secured financing to the rail industry.

More recent CIT Group Inc. (NYSE:CIT) news were published by: Prnewswire.com which released: “CIT Names Chief Risk Officer; Promotes Chief Credit Officer” on May 25, 2018. Also Seekingalpha.com published the news titled: “US’s largest banks would be able to lend in `severe’ global recession: Fed” on June 21, 2018. Pehub.com‘s news article titled: “CIT provides $26.6 mln to joint venture to buy medical buildings” with publication date: June 20, 2018 was also an interesting one.

CIT Group Inc. (NYSE:CIT) Institutional Positions Chart

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