CIT Group Inc. (NYSE:CIT) registered a 0.74% increase, still its new closing price is 65.00% up from the company’s 1 year high of 43.99.It posted -4.09% losses in previous 5 sessions and is now the subject of 9 analysts who together assign a hold rating on stock. 1 of Wall Street analysts have an underperform rating; the 0 sells versus 3 buy or better ratings. The 14 stock analysts following this company have an average price target at $43.92, with individual PT in the $33.00-$50.00 range. The shares moved at $41.03, implying that brokerage firms see shares gaining about 53.78% in twelve months time.
CIT Group Inc. (CIT) SEC Form 4 News
The stock is getting much attention these days as insiders are offloading shares while they posted a -3.87% fall year to date. A Director at CIT Group Inc. (CIT) offloaded shares in a transaction closed on Monday November 14, 2016. RYAN JOHN R sold 3,769 shares in the company at $39.89 each and collected $150,000 in proceeds. RYAN JOHN R now owns 7,490 shares in the company after this transaction. A Vice Chairman in the company, MNUCHIN STEVEN T, disclosed a transaction on Thursday February 11, 2016 that ended up paying $2,051,000 from the purchase of 80,000 shares at $25.64 per share.
CIT Group Inc. (NYSE:CIT) Upcoming Results on Tap
CIT Group Inc. will next provide financial results for the March 2017 quarter. Stock analysts expect it to report per-share earnings of $0.55 in that period. Sales during the quarter are predicted to arrive at $497.62 million.
Earnings surprise history: Last quarter, the company posted approximately $437.2 million in revenue and EPS of $-4.06. The mean forecast was for $612.62 million and $0.77 a share, respectively. One quarter earlier, revenue for the stock was at $608.7 million, with earnings at $0.65/share.
CIT Group Inc. (CIT) Brokerage Update
CIT Group Inc. (CIT) is in BofA/Merrill’s research list so their analyst rating change is noteworthy. These shares were upgraded to Neutral from Underperform by BofA/Merrill, according to news reported on Tuesday October 11, 2016.Another important research note was issued by Stifel on Friday October 07, 2016.The firm downgraded CIT to Hold from Buy. Over the last six months and over the last three months, the shares of CIT Group Inc. (CIT), have changed 22.34% and 14.63%, respectively.
