$18.72 – $19.64: Is it good range for CIT Group Inc. (CIT)


CIT Group Inc. (NYSE:CIT) changes shares on Wednesday trading session, with a change of 5.26% or $0.98 shares. The trading starts at $18.87 and closed at $18.62 throughout the day. The trading session low price was $18.72 and day high was $19.64 on Wednesday, August 05. After the session, the Financial sector daily volume shifted to 2.04 million while its average volume is 2.85M. In other hand, the CIT market cap reached to $1.92B. While, its current target price is $26.78.

On April 26, 2018, BRIEF-Cit Announces Cash Tender Offer For Up To $500,000,000 Of Its Common Stock. According to the news reported on Reuters, * CIT ANNOUNCES CASH TENDER OFFER FOR UP TO $500,000,000 OF ITS COMMON STOCK

Checking out the performance report which defines the increase or decrease of prices for a specific period. For the last 5 trading sessions, its performance is up 1.34% and up 4.03% for month. Its quarterly performance was 30.93% above, while its half year performance is down -59.65%. CIT yearly performance stood at negative -57.12% and fall -57.05% for year-to-date. Current recommendation for CIT Group Inc. is 2.40.

Earnings per share or EPS is an important financial measure, which defines the profitability of a company. CIT EPS (TTM) for 12-month is -4.62. EPS for this year is 41.70%, while for the next year its value is 2.26. Its EPS Q/Q reached -643.10%. It has an EPS of 8.10% up for past five years and for the next five years will be up 10.00%.

Let’s take a look on the analyst recommendations on CIT for the current month and previous month. For the current month, 3 of 9 analysts recommend stock as Buy while 0 as Sell, 0 as overweight, 0 as underweight and 6 as Hold. As compared with the previous month ratings, 10 analysts participate in stock recommendation. Out of 10, 0 rated it sell, 4 rated it as Buy and 6 as Hold Ratings. On the other hand, target price ranges from $22.00 – $34.00. Average target price for CIT was reached at $25.88.

Vanguard Group, Inc. (The), Blackrock Inc. and First Pacific Advisors, LP are the top three holders in CIT Group Inc. (CIT) stock. On Mar 30, 2020, Vanguard Group, Inc. (The) has 9.91 million shares which valued 170.98 million. On Mar 30, 2020, Blackrock Inc. owned 9.27 million shares which valued at 160.05 million. On Mar 30, 2020, First Pacific Advisors, LP has a total of 6.89 million shares which valued at 118.96 million. In the end, First Pacific Advisors, LP have 7.00% shares outstanding of CIT Group Inc. (CIT) on Mar 30, 2020. The insider ownership moved to 0.90%.

The company posted an EPS (TTM) of -4.62. According to the most recent quarter report on (Sep 2020), 9 analysts estimated an average EPS of 0.1, while 1.5 EPS posted a year ago period. Analyst Estimated EPS for CIT published in the report was -$0.24 – $0.28 during the same period. Comparing with last year, the average estimated EPS was 1.5 which is higher than -0.99 which was posted for recent quarter EPS.

A brief look on simple moving average (SMA) that determines the market price can impact a market. The SMA for CIT fall -37.96% for period of 200 days. SMA for 50 days was -6.19% which is showing red signal, while SMA-20 was 1.80%. The moving average value for CIT Group Inc. (CIT) is 5.06M and 7.16% for 200 and 50 days respectively.

Let’s take a look on the insider transactions, in which multiple shareholders are showing interest in CIT stock. On Mar 24, Stamps Sheila A, Director, bought 2,000 trading shares at the cost of $16.12, which valued at 32240.0. On Mar 23, SPERLING EDWARD K, EVP & Controller, bought 2,500 shares at the cost of $12.88, with total shares of 15,725. On Mar 23, Frank Alan L, Director, bought 2,500 shares at the cost of 12.84. After this transaction, Frank Alan L total shares reached to 26,346 which valued at 32100.0.