CIT Group Inc (DEL) (NYSE:CIT) is reporting second quarter financial results on Tuesday 21st July 2020, before market open.
According to analysts surveyed by Thomson Reuters, CIT is expected to report 2Q20 loss of $ 0.55 per share from revenue of $ 475.96 million.
For the full year, analysts anticipate top line of $ 1782.08 million, while looking forward to loss of $ 6.2 per share bottom line.
Previous Quarter Performance
CIT Group Inc (DEL) unfold income for the first quarter of $ 0.95 per share, from the revenue of $ 496.40 million. The consensus estimates are income of $ 0.74 per share from $ 551.17 million in revenue. The bottom line results beat street analysts by $ 0.21 or 28.38 percent, at the same time, top line results fell short of analysts by $ 54.77 million or 9.94 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of CIT was $ 18.88, representing a 57.07 % increase from the 52 week low of $ 12.02 and a 63.45 % decrease over the 52 week high of $ 51.65.
The company has a market capital of $ 1.86 billion and is part of the Financial Services sector and Banks – Regional – US industry.
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Recent Analyst recommendations
On 18th June 2020, maintained by Citigroup at Buy rating, with $ 31.00 target price.
On 8th June 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 26.00 target price.
Recent Stock Dividend Announcement
On April 16, 2020, the board of directors authorized quarterly dividend of $ 0.35 per share to holders of record as of the close of business on May 8, 2020, with payment date of May 22, 2020 and ex-dividend date on May 7, 2020.
Conference Call
CIT Group Inc (DEL) will be hosting a conference call at 8:00 AM eastern time on 21st July 2020, to discuss its 2Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.cit.com
CIT Group Inc. operates as the holding company for CIT Bank, N.A. that provides banking and related services to commercial and individual customers.
