Analysts Estimate Report : What to Look Out for CIT Group (NYSE:CIT)

Earnings results for CIT Group (NYSE:CIT)

CIT Group Inc (DEL) is expected* to report earnings on 04/28/2021 before market open. The report will be for the fiscal Quarter ending Mar 2021. According to Zacks Investment Research, based on 2 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.98. The reported EPS for the same quarter last year was $-2.43.

CIT Group last posted its earnings data on January 25th, 2021. The financial services provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.93. The firm earned $496 million during the quarter, compared to analyst estimates of $451.85 million. Its revenue was up 7.6% compared to the same quarter last year. CIT Group has generated $5.06 earnings per share over the last year. CIT Group has confirmed that its next quarterly earnings report will be published on Wednesday, April 28th, 2021.

Analyst Opinion on CIT Group (NYSE:CIT)

9 Wall Street analysts have issued ratings and price targets for CIT Group in the last 12 months. Their average twelve-month price target is $41.69, predicting that the stock has a possible downside of 23.50%. The high price target for CIT is $62.00 and the low price target for CIT is $24.00. There are currently 7 hold ratings and 2 buy ratings for the stock, resulting in a consensus rating of “Hold.”

CIT Group has received a consensus rating of Hold. The company’s average rating score is 2.22, and is based on 2 buy ratings, 7 hold ratings, and no sell ratings. According to analysts’ consensus price target of $41.69, CIT Group has a forecasted downside of 23.5% from its current price of $54.49. CIT Group has only been the subject of 1 research reports in the past 90 days.

Dividend Strength: CIT Group (NYSE:CIT)

CIT Group pays a meaningful dividend of 2.58%, higher than the bottom 25% of all stocks that pay dividends. CIT Group has only been increasing its dividend for 1 years. The dividend payout ratio of CIT Group is 27.67%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, CIT Group will have a dividend payout ratio of 49.30% next year. This indicates that CIT Group will be able to sustain or increase its dividend.

Insiders buying/selling: CIT Group (NYSE:CIT)

In the past three months, CIT Group insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,058,761.00 in company stock. Only 0.65% of the stock of CIT Group is held by insiders. 90.45% of the stock of CIT Group is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of CIT Group (NYSE:CIT

Earnings for CIT Group are expected to grow in the coming year, from ($1.66) to $2.84 per share. The P/E ratio of CIT Group is -10.32, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of CIT Group is -10.32, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. CIT Group has a P/B Ratio of 0.89. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

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