CIT Group Inc. (NYSE:CIT) rose 0.76% during previous trade. BofA/Merrill issued rating on the stock of CIT Group Inc. (NYSE:CIT) in a research note issued to investors on Apr-26-17, the stock received “Upgrade” rating from Neutral to Buy. Additionally Morgan Stanley issued their verdict on the stock of the company, on record date of Mar-27-17 the stock was “Initiated” as Equal-Weight at $45 besides that on Oct-11-16 CIT Group Inc. (NYSE:CIT) was “Upgraded” by BofA/Merrill from Underperform to Neutral. Furthermore on Oct-07-16 the stock was “Downgraded” by Stifel from Buy to Hold from $40 to $41.
CIT Group Inc. (NYSE:CIT) shares ended last trading session at the price of $45.36 whereas a number of traders indicating mean target price will hit $45 over the next twelve months, mean value of price target most recently revised on 04/18/17. CIT Group Inc. (NYSE:CIT)’s highest estimates of price target are $53 and low forecast is $33 based on the opinion of 13 analysts. The price target estimates represents a standard deviation of 7.47. However brokerage recommendations suggests an ABR of 2.56 based on calls of 9 experts, where 3 brokers polls the stock a Strong Buy, 0 suggest the stock a Buy, 5 suggest Hold, 0 are rating the stock as Sell while 1 as Strong Sell.
CIT Group Inc. (NYSE:CIT) is expected to release the earnings of its current quarter on 7/27/17. The company is expected to release $0.59 EPS for current quarter according to 11 analysts whereas the company reported $0.73 EPS during same quarter a year ago. For the current quarter the stock has lowest EPS estimates of $0.45 and high estimate of $0.79. For the current year CIT Group Inc. (NYSE:CIT) has set to release EPS of $2.89 as per the sentiments of 10 analysts, however according to 10 analysts, the company expected to release $3.91 EPS for next year.
CIT Group Inc. (NYSE:CIT)’s average revenue estimates for the current quarter are $505.12M according to 4 number of analysts. However its lowest revenue estimates are $492M and highest revenue estimates are $520.8M. A year ago the company’s sales were 653.8M. Its yearly sales growth estimates are -22.70%. For the next quarter the company has anticipated average revenues of $519.98M, according to the sentiments of 4 analysts. For the current year the company has fixed $2.06B revenues, as per the opinion of 6 analysts. For the current year the company has low revenue estimates of $1.98B in contradiction of high revenue estimates of $2.17B. Whereas for the next year revenues are set at $2.06B by 6 analysts.
The stock exchanged hands 2.19M shares versus average trading capacity of 2.17M shares, while its shares’ total market worth is $9.34B along with 202.74M outstanding shares. CIT Group Inc. (NYSE:CIT) shares were trading -0.13% below from the 52-week high price mark of $45.42 and +62.05% above from the 52-week price bottom of $27.99. However the company observed 52 week high price on 04/26/17 and witnessed 52 week low price on 06/27/16. The company’s price sits 6.10% above from its 50-day moving average of $42.67 and 15.63% far from the stock’s 200-day moving average which is $41.36. CIT Group Inc. (NYSE:CIT)’s price to sales ratio for trailing twelve month stands at 4.72, whereas its price to book ratio for most recent quarter sits at 0.92. However the company’s price to cash per share for most recent quarter stands at 1.38. Its price to free cash flow for trailing twelve months is 23.94.