Market cap of CIT Group Inc. [CIT] reaches 1.89B – now what?

CIT Group Inc. [NYSE: CIT] loss -3.16% on the last trading session, reaching $20.25 price per share at the time. The company report on August 13, 2020 that CIT Serves as Sole Lead Arranger on $28 Million Maritime Financing.

CIT Group Inc. (NYSE: CIT) today announced that its Maritime Finance business, part of its Commercial Finance division, served as sole lead arranger on $28 million refinancing for Valloeby Shipping Ltd.

Valloeby, which is owned by a fund managed by a U.S. private equity fund sponsor, is a returning customer for CIT, which underwrote a senior secured financing for Valloeby in May 2015. This latest transaction replaces the earlier financing and is secured by the same eight carriers as in the prior agreement.

CIT Group Inc. represents 98.44 million in outstanding shares, while the company has a total market value of $1.89 billion with the latest information. CIT stock price has been found in the range of $20.085 to $20.90.

If compared to the average trading volume of 2.78M shares, CIT reached a trading volume of 1505121 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about CIT Group Inc. [CIT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CIT shares is $26.56 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CIT stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for CIT Group Inc. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on July 21, 2020. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price from $26 to $29. The new note on the price target was released on May 15, 2020, representing the official price target for CIT Group Inc. stock.

The Average True Range (ATR) for CIT Group Inc. is set at 1.14, with the Price to Sales ratio for CIT stock in the period of the last 12 months amounting to 0.97. The Price to Book ratio for the last quarter was 0.38, with the Price to Cash per share for the same quarter was set at 93.26.

Trading performance analysis for CIT stock

CIT Group Inc. [CIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.00. With this latest performance, CIT shares dropped by -2.41% in over the last four-week period, additionally sinking by -57.32% over the last 6 months – not to mention a drop of -50.39% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CIT stock in for the last two-week period is set at 50.12, with the RSI for the last a single of trading hit 54.35, and the three-weeks RSI is set at 51.09 for CIT Group Inc. [CIT]. The present Moving Average for the last 50 days of trading for this stock 21.00, while it was recorded at 20.55 for the last single week of trading, and 30.74 for the last 200 days.

CIT Group Inc. [CIT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and CIT Group Inc. [CIT] shares currently have an operating margin of +18.90. CIT Group Inc.’s Net Margin is presently recorded at +16.75.

Return on Total Capital for CIT is now 4.40, given the latest momentum, and Return on Invested Capital for the company is 4.18. Return on Equity for this stock inclined to 8.62, with Return on Assets sitting at 1.07. When it comes to the capital structure of this company, CIT Group Inc. [CIT] has a Total Debt to Total Equity ratio set at 126.98. Additionally, CIT Total Debt to Total Capital is recorded at 55.94, with Total Debt to Total Assets ending up at 13.21. Long-Term Debt to Equity for the company is recorded at 114.46, with the Long-Term Debt to Total Capital now at 55.43.

Reflecting on the efficiency of the workforce at the company, CIT Group Inc. [CIT] managed to generate an average of $146,689 per employee.

CIT Group Inc. [CIT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, CIT Group Inc. posted 1.5/share EPS, while the average EPS was predicted by analysts to be reported at 1.21/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 24.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CIT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CIT Group Inc. go to 10.00%.

An analysis of insider ownership at CIT Group Inc. [CIT]

There are presently around $1,915 million, in the hands of institutional investors. The top three institutional holders of CIT stocks are: VANGUARD GROUP INC with ownership of 9,906,371, which is approximately 4.467% of the company’s market cap and around 0.90% of the total institutional ownership; BLACKROCK INC., holding 9,272,694 shares of the stock with an approximate value of $187.77 million in CIT stocks shares; and CAPITAL WORLD INVESTORS, currently with $131.49 million in CIT stock with ownership of nearly -13.769% of the company’s market capitalization.

Positions in CIT Group Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 152 institutional holders increased their position in CIT Group Inc. [NYSE:CIT] by around 18,106,874 shares. Additionally, 156 investors decreased positions by around 15,916,769 shares, while 36 investors held positions by with 60,543,870 shares. The mentioned changes placed institutional holdings at 94,567,513 shares, according to the latest SEC report filing. CIT stock had 50 new institutional investments in for a total of 3,719,955 shares, while 73 institutional investors sold positions of 7,240,930 shares during the same period.

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