Media headlines about CIT Group (NYSE:CIT) have been trending positive this week, according to Accern Sentiment. The research group scores the sentiment of news coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. CIT Group earned a news sentiment score of 0.29 on Accern’s scale. Accern also gave headlines about the financial services provider an impact score of 47.0956721579751 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the news headlines that may have effected Accern Sentiment Analysis’s rankings:
- CIT Group (CIT) Presents At Credit Suisse 19th Annual Financial Services Forum – Slideshow (seekingalpha.com)
- CIT Northbridge Serves as Sole Lead Arranger on $25 Million Credit Facility for Midwest High Reach (finance.yahoo.com)
- LCI Partners With CIT and Prudential Capital Group on Inaugural Capital Markets Financing (finance.yahoo.com)
- CIT Announces Vince Mollica as Equipment Finance Lead (finance.yahoo.com)
A number of analysts have commented on the stock. BMO Capital Markets raised shares of CIT Group from an “underperform” rating to a “market perform” rating and reduced their price objective for the company from $49.00 to $35.00 in a research note on Monday, February 5th. Morgan Stanley upped their price objective on shares of CIT Group from $54.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, February 5th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $53.00 price objective on shares of CIT Group in a research note on Friday, December 29th. Zacks Investment Research raised shares of CIT Group from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday, January 2nd. Finally, Credit Suisse Group upped their price objective on shares of CIT Group from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. CIT Group has a consensus rating of “Buy” and a consensus price target of $53.73.
CIT Group (NYSE:CIT) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.18. The business had revenue of $537.00 million during the quarter, compared to analyst estimates of $469.24 million. CIT Group had a net margin of 14.60% and a return on equity of 6.84%. The firm’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. equities research analysts predict that CIT Group will post 4.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Thursday, February 8th. CIT Group’s dividend payout ratio (DPR) is 24.62%.
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About CIT Group
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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