Sunday, October 25, 2020

Market cap of CIT Group Inc. [CIT] reaches 1.57B – now what?

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CIT Group Inc. [NYSE: CIT] gained 2.77% or 0.44 points to close at $16.34 with a heavy trading volume of 1332131 shares.

It opened the trading session at $15.74, the shares rose to $16.40 and dropped to $15.67, the range by which the price of stock traded the whole day. The daily chart for CIT points out that the company has recorded -8.10% loss over the past six months. However, it is still -35.94% lower than its most recent low trading price.

If we look at the average trading volume of 1.98M shares, CIT reached to a volume of 1332131 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 $26.33 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 0.87, with the Price to Sales ratio for CIT stock in the period of the last 12 months amounting to 0.80. The Price to Book ratio for the last quarter was 0.31, with the Price to Cash per share for the same quarter was set at 91.08.

Trading performance analysis for CIT stock

CIT Group Inc. [CIT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.02. With this latest performance, CIT shares dropped by -16.93% in over the last four-week period, additionally sinking by -8.10% over the last 6 months – not to mention a drop of -63.87% 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 35.68, with the RSI for the last a single of trading hit 31.98, and the three-weeks RSI is set at 38.80 for CIT Group Inc. [CIT]. The present Moving Average for the last 50 days of trading for this stock 19.05, while it was recorded at 16.43 for the last single week of trading, and 26.86 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 3.91. 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 105.95. Additionally, CIT Total Debt to Total Capital is recorded at 51.44, 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 50.97.

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 $1,556 million, or 99.20% of CIT stock, in the hands of institutional investors. The top three institutional holders of CIT stocks are: BLACKROCK INC. with ownership of 12,406,290, which is approximately 33.794% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 10,190,917 shares of the stock with an approximate value of $166.52 million in CIT stocks shares; and FIRST PACIFIC ADVISORS, LP, currently with $98.05 million in CIT stock with ownership of nearly -12.938% 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 138 institutional holders increased their position in CIT Group Inc. [NYSE:CIT] by around 17,336,785 shares. Additionally, 157 investors decreased positions by around 14,691,881 shares, while 38 investors held positions by with 63,180,650 shares. The mentioned changes placed institutional holdings at 95,209,316 shares, according to the latest SEC report filing. CIT stock had 41 new institutional investments in for a total of 1,965,271 shares, while 77 institutional investors sold positions of 4,470,827 shares during the same period.

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