CIT Group (CIT) Stock Price, News & Analysis

Company Overview

CIT Group, Inc. is a financial holding company, which provides financing, leasing and advisory services. It operates through the following business segments: Commercial Banking, Consumer Banking and Corporate. The Commercial Banking segment consists of four divisions, commercial finance, rail, and real estate finance and business capital. It provides a range of lending, leasing and deposit products, as well as ancillary products and services, including factoring, cash management and advisory services, primarily to small and medium- sized companies, as well as to the rail industry. The Consumer Banking segment includes retail Banking, consumer lending, and SBA lending, which are grouped together for purposes of discussion as other consumer banking and legacy consumer mortgages. The Corporate segment consists of businesses and portfolios that they no longer consider strategic. These portfolios include equipment financing, secured lending and leasing and advisory services to small and middle-market businesses. The company was founded by Henry Ittelson in 1908 and is headquartered in New York, NY.

Key Stats

• Today's Range: $51.36 to $54.33
• 50-Day Range: $46.31 to $53.61
• 52-Week Range: $34.77 to $56.62
• Volume: 32.81 million shs
• Average Volume: 778,897 shs
• Market Capitalization: $5.31 billion
• P/E Ratio: 7.80
• Dividend Yield: 2.62%
• Price Target: N/A
• Consensus Rating: N/A

CIT Group Stock Analysis - MarketRank™

CIT Group scored higher than 30% of companies evaluated by MarketBeat, and ranked 799th out of 930 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: N/A
• Analyst Rating: N/A

Consensus Rating

There is not enough analysis data for CIT Group.

Earnings and Valuation

• Score: 1.3 / 5
• Proj. Earnings Growth: -38.62%

Earnings Growth

Earnings for CIT Group are expected to decrease by -38.62% in the coming year, from $7.51 to $4.61 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of CIT Group is 7.80, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 123.44.

Price to Earnings Ratio vs. Sector

The P/E ratio of CIT Group is 7.80, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 45.55.

Price to Book Value per Share Ratio

CIT Group has a P/B Ratio of 1.01. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: N/A
• Short Interest Level: N/A

Short Interest

There is no current short interest data available for CIT.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Yield

CIT Group pays a meaningful dividend of 2.62%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

CIT Group does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of CIT Group is 20.41%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, CIT Group will have a dividend payout ratio of 30.37% next year. This indicates that CIT Group will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 3.6 / 5
• Environmental Score: -0.33

Short Interest

There is no current short interest data available for CIT.

News and Social Media

• Score: 0.0 / 5
• News Sentiment: N/A

News Coverage This Week

MarketBeat has tracked 1 news article for CIT Group this week, compared to 2 articles on an average week.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, CIT Group insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 0.65% of the stock of CIT Group is held by insiders.

Percentage Held by Institutions

91.20% of the stock of CIT Group is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

CIT Stock Analysis - Frequently Asked Questions

How were CIT Group's earnings last quarter?

CIT Group Inc. (NYSE:CIT) announced its quarterly earnings data on Monday, October, 25th. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.33 by $0.39. The company's revenue for the quarter was down 8.9% on a year-over-year basis.

Does CIT Group have any subsidiaries?

CIT Group subsidiaries include these companies: OneWest Bank N.A, 1143986 Ontario Limited, 1244771 Ontario Limited, 3918041 Canada Inc., 544211 Alberta Ltd., 555565 Alberta Ltd., 555566 Alberta Ltd., and others.

What other stocks do shareholders of CIT Group own?

Based on aggregate information from My MarketBeat watchlists, some other companies that CIT Group investors own include Meta Platforms (META), JPMorgan Chase & Co. (JPM), Bank of America (BAC), Citigroup (C), Chevron (CVX), Delta Air Lines (DAL) and Boeing (BA).

Company Calendar

• Last Earnings: 10/25/2021
• Today: 11/21/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Finance
• Industry: National Commercial Banks
• Sub-Industry: Regional Banks
• Current Symbol: NYSE:CIT
• CUSIP: 12558180
• CIK: 1171825
• Web: www.cit.com
• Phone: (212) 461-5200
• Fax: 212-461-5200
• Employees: 4,163
• Year Founded: 1908

Profitability

• EPS (Most Recent Fiscal Year): $6.86
• Trailing P/E Ratio: 7.80
• Forward P/E Ratio: 7.12
• P/E Growth: N/A
• Net Income: $-615,300,000.00
• Net Margins: 23.98%
• Pretax Margin: 32.41%
• Return on Equity: 15.12%
• Return on Assets: 1.47%

Debt

• Debt-to-Equity Ratio: 0.75
• Current Ratio: 0.93
• Quick Ratio: 0.93

Sales & Book Value

• Annual Sales: $3.15 billion
• Price / Sales: 1.68
• Cash Flow: $8.56 per share
• Price / Cash Flow: 6.25
• Book Value: $52.75 per share
• Price / Book: 1.01

Miscellaneous

• Outstanding Shares: 99,170,000
• Free Float: 98,525,000
• Market Cap: $5.31 billion
• Optionable: Optionable
• Beta: 1.48