Somewhat Positive News Coverage Somewhat Unlikely to Affect CIT Group (CIT) Share Price

Media coverage about CIT Group (NYSE:CIT) has been trending somewhat positive recently, according to Accern Sentiment Analysis. Accern identifies negative and positive press coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. CIT Group earned a media sentiment score of 0.23 on Accern’s scale. Accern also gave media stories about the financial services provider an impact score of 46.9120255452128 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.

Here are some of the news articles that may have effected Accern’s analysis:

Get CIT Group alerts: We��re winning the war on CIT heists, say police (citizen.co.za) Oppenheimer Equities Analysts Reduce Earnings Estimates for CIT Group (CIT) (americanbankingnews.com) Did Grandview police use their crisis training before fatally shooting man with sword? (kansascity.com) CIT Group (CIT) Given Consensus Recommendation of “Hold” by Brokerages (americanbankingnews.com) CIT Adds New Executive to Communications & Technology Finance Team (abladvisor.com)

Shares of CIT Group traded up $0.66, reaching $51.56, during midday trading on Friday, according to Marketbeat.com. The stock had a trading volume of 37,528 shares, compared to its average volume of 1,228,943. CIT Group has a one year low of $43.25 and a one year high of $56.14. The company has a market cap of $6.42 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.27 and a beta of 1.28. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.09 and a quick ratio of 1.09.

CIT Group (NYSE:CIT) last announced its quarterly earnings data on Tuesday, April 24th. The financial services provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.22). CIT Group had a net margin of 11.93% and a return on equity of 7.76%. The firm had revenue of $495.00 million during the quarter, compared to the consensus estimate of $481.00 million. During the same period last year, the business earned $0.54 EPS. analysts expect that CIT Group will post 3.99 earnings per share for the current year.

A number of research analysts recently weighed in on CIT shares. TheStreet raised shares of CIT Group from a “c+” rating to a “b-” rating in a research report on Tuesday, March 20th. UBS Group started coverage on shares of CIT Group in a research report on Tuesday, March 27th. They issued a “neutral” rating and a $56.00 target price for the company. BTIG Research reaffirmed a “buy” rating and issued a $57.00 target price on shares of CIT Group in a research report on Wednesday, April 18th. BMO Capital Markets decreased their target price on shares of CIT Group from $49.00 to $46.00 and set a “market perform” rating for the company in a research report on Wednesday, April 25th. Finally, ValuEngine downgraded shares of CIT Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $54.59.

In related news, Director Sheila A. Stamps sold 3,350 shares of CIT Group stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $52.12, for a total transaction of $174,602.00. Following the completion of the sale, the director now owns 4,666 shares of the company’s stock, valued at approximately $243,191.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Edward K. Sperling sold 1,765 shares of CIT Group stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $51.44, for a total transaction of $90,791.60. Following the sale, the executive vice president now directly owns 10,491 shares of the company’s stock, valued at approximately $539,657.04. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

About CIT Group

CIT Group Inc operates as the bank holding company for CIT Bank, National Association that provides banking and related services to commercial and individual customers. The company operates through three segments: Commercial Banking, Consumer Banking, and Non-Strategic Portfolios (NSP). The Commercial Banking segment offers lending, leasing, and other financial and advisory services primarily to small and middle-market companies; factoring, receivables management products, and secured supply chain financing; and equipment leasing and secured financing to railroads and non-rail companies.