Somewhat Favorable News Coverage Somewhat Unlikely to Affect CIT Group (CIT) Stock Price

Press coverage about CIT Group (NYSE:CIT) has been trending somewhat positive this week, Accern Sentiment Analysis reports. Accern identifies negative and positive news coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. CIT Group earned a coverage optimism score of 0.25 on Accern’s scale. Accern also gave press coverage about the financial services provider an impact score of 47.6252008175652 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 media headlines that may have effected Accern Sentiment Analysis’s rankings:

CIT stock opened at $54.65 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 1.31 and a beta of 1.30. CIT Group has a 1 year low of $53.42 and a 1 year high of $53.98.

CIT Group (NYSE:CIT) last posted its earnings results on Tuesday, April 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.22). The company had revenue of $495.00 million during the quarter, compared to the consensus estimate of $481.00 million. CIT Group had a net margin of 11.93% and a return on equity of 7.76%. During the same quarter in the previous year, the business posted $0.54 earnings per share. analysts predict that CIT Group will post 4.1 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Friday, May 11th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, May 10th. CIT Group’s payout ratio is 20.85%.

A number of research firms have commented on CIT. Zacks Investment Research downgraded shares of CIT Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. TheStreet raised shares of CIT Group from a “c+” rating to a “b-” rating in a report on Tuesday, March 20th. BMO Capital Markets decreased their price objective on shares of CIT Group from $49.00 to $46.00 and set a “market perform” rating for the company in a report on Wednesday, April 25th. Credit Suisse Group lifted their price objective on shares of CIT Group from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Finally, Morgan Stanley lifted their price objective on shares of CIT Group from $54.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. CIT Group currently has an average rating of “Hold” and a consensus price target of $54.83.

In other CIT Group news, insider James L. Hudak sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $53.63, for a total value of $107,260.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.27% of the company’s stock.

CIT Group Company Profile

CIT Group Inc operates as the bank holding company for CIT Bank, National Association that provides banking and related services to commercial and individual customers. The company operates through three segments: Commercial Banking, Consumer Banking, and Non-Strategic Portfolios (NSP). The Commercial Banking segment offers lending, leasing, and other financial and advisory services primarily to small and middle-market companies; factoring, receivables management products, and secured supply chain financing; and equipment leasing and secured financing to railroads and non-rail companies.

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

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