CIT Group Inc (CIT) Stock Forecast & Predictions

CIT Group Inc CIT: $53.51

1 Cit Dr, Livingston, New Jersey, US. | Sector: Finance and Insurance | Exchange: NEW YORK STOCK EXCHANGE INC. | Web: www.cit.com

  • Market Cap$5.16B
  • Change (52 Weeks)229.37%
  • Low (52 Weeks)$16.19
  • CIT Group Inc (CIT) Forecast Based on Technical Analysis


    Neutral
    Based on 16 Technical Indicators where 25.00% are on Buy, 25.00% on Sell, and 50.00% Neutral.

    According to the market data, CIT Group Inc (CIT) stock price is $53.51 and the 52 weeks low is $16.19, which means the CIT Group Inc stock price is up 229.37% in the last 12 months.

    CIT Group Inc (CIT) Stock Price has been Trending Strongly with an ADX reading of 33.80 as per the Weekly Chart.

    A Upward trend indicates that CIT Group Inc (CIT) Stock Price may keep going up, with temporary Retracement (the process of stock price bouncing because of short term profit taking by the traders and investors).

    Technical Indicators are algorithms that are used mostly by Technical traders to predict the price action of a stock.

    Based on our analysis of 16 technical indicators, 25.00% are indicating that CIT Stock price might rise further, 25.00% indicating that CIT Stock price might fall, and 50.00% are in a neutral position.

    Based on these technical algorithms, overall CIT stock price has a Neutral Signal, which means the stock price has the potential to move either up or down, depending on the nature of consolidating market phase, since majority of indicators are providing a neutral signal.

    CIT Group Inc (CIT) Stock Forecast By Analysts


    On Hold
    Analysts Recommendations for CIT Group Inc (CIT) is based on 9 Institutional Analyst Ratings where 33.33% are on Strong Buy, 11.11% on Moderate Buy, 55.56% remains on Hold, 0.00% are on Moderate Sell and 0.00% are on Strong Sell.

    Out of 9 Institutional Analysts, majority recommended CIT stock as On Hold. This means investors are recommended to hold their existing positions if any, otherwise, the recommendation is neither to buy nor sell at this stage. Since most investors and traders follow analyst ratings closely, this can be a potentially driving factor for the future stock price of CIT Group Inc.

    CIT Group Inc (CIT) Stock Price Prediction By Analysts


    HighLowAverage
    $65.10$48.48$53.45
    $53.450.12% Downside
    Updated: 2021-09-19 00:00:00

    The Average Price target for CIT set by the institutional analysts is $53.45 where High Estimate is $65.10, Median $51 and Low $48.48.

    The average price target for CIT by Institutional Analysts is $53.45, which is 0.12% Downside from the current price. So according to the Institutional Analysts, CIT Stock might be a bit overvalued at this stage and there’s potential for downside.

    However, although Institutional Analysts set their price targets after extensive research, they’re not always correct. After all, the market is mostly driven by investors speculation and emotion than just concrete numbers.

    CIT Group Inc (CIT) Stock Forecasts By Institutional Analysts


    Analyst
    Recommendation
    Action
    Keefe, Bruyette & WoodsOutperformUpgraded
    Wells FargoEqual-WeightMaintained
    BMO CapitalMarket PerformDowngraded
    Morgan StanleyEqual-WeightMaintained
    CitigroupBuyMaintained
    CitigroupBuyMaintained
    Morgan StanleyEqual-WeightMaintained
    BMO CapitalOutperformUpgraded
    Morgan StanleyEqual-WeightMaintained
    Credit SuisseNeutralMaintained
    BMO CapitalMarket PerformMaintained
    Credit SuisseNeutralMaintained
    Morgan StanleyEqual-WeightMaintained
    OppenheimerOutperformMaintained
    CitigroupBuyMaintained
    Morgan StanleyEqual-WeightMaintained
    Morgan StanleyEqual-WeightMaintained
    Stephens & Co.Equal-WeightMaintained
    Morgan StanleyEqual-WeightMaintained
    BMO CapitalMarket PerformMaintained
    UBSBuyMaintained
    OppenheimerOutperformMaintained
    UBSBuyUpgraded
    Morgan StanleyEqual-WeightMaintained
    BMO CapitalMarket PerformMaintained
    Morgan StanleyEqual-WeightMaintained
    Stephens & Co.Equal-WeightDowngraded
    Morgan StanleyEqual-WeightMaintained
    BMO CapitalMarket PerformMaintained
    Credit SuisseNeutralMaintained
    Compass PointBuyInitiated
    BMO CapitalMarket PerformMaintained
    UBSNeutralInitiated
    Morgan StanleyEqual-WeightMaintained
    Credit SuisseNeutralMaintained
    BMO CapitalMarket PerformUpgraded
    Wells FargoMarket PerformMaintained
    Morgan StanleyEqual-WeightMaintained
    Wells FargoMarket PerformInitiated
    BMO CapitalUnderperformMaintained
    BarclaysEqual-WeightMaintained
    CitigroupBuyInitiated
    Morgan StanleyEqual-WeightMaintained
    BMO CapitalUnderperformMaintained
    Stephens & Co.OverweightUpgraded
    JMP SecuritiesMarket OutperformMaintained
    OppenheimerOutperformMaintained
    Bank of AmericaBuyUpgraded
    Morgan StanleyEqual-WeightInitiated
    BMO CapitalUnderperformDowngraded
    Stephens & Co.Equal-WeightInitiated
    Bank of AmericaNeutralUpgraded
    Stifel NicolausHoldDowngraded
    Credit SuisseNeutralMaintained
    NomuraNeutralMaintained
    BarclaysEqual-WeightMaintained
    NomuraNeutralMaintained
    Bank of AmericaUnderperformDowngraded
    Sterne Agee CRTNeutralDowngraded
    OppenheimerOutperformMaintained
    CitigroupNeutralDowngraded
    BMO CapitalMarket PerformMaintained
    Deutsche BankHoldInitiated
    JMP SecuritiesOutperformInitiated
    Stifel NicolausBuyMaintained
    MacquarieOutperformUpgraded
    OppenheimerOutperformMaintained
    DA DavidsonBuyInitiated
    BarclaysEqual-WeightMaintained
    Stifel NicolausBuyMaintained
    BarclaysEqual-WeightMaintained
    CitigroupBuyMaintained
    MacquarieNeutralUpgraded
    Credit SuisseNeutralMaintained
    Morgan StanleyUnderweightUpgraded
    MacquarieUnderperformMaintained
    CitigroupBuyMaintained
    BarclaysEqual-WeightMaintained
    MacquarieUnderperformInitiated
    NomuraNeutralMaintained
    CitigroupBuyMaintained
    NomuraNeutralMaintained
    Buckingham ResearchBuyUpgraded
    Goldman SachsNeutralInitiated
    NomuraNeutralMaintained
    SunTrust Robinson HumphreyNeutralInitiated
    Janney CapitalBuyUpgraded
    Stifel NicolausBuyMaintained
    NomuraNeutralMaintained
    JefferiesHoldMaintained
    Credit SuisseNeutralMaintained
    Drexel HamiltonBuyUpgraded
    Stifel NicolausBuyMaintained
    JefferiesHoldMaintained
    OppenheimerOutperformUpgraded
    NomuraNeutralMaintained
    Compass PointNeutralDowngraded
    NomuraNeutralDowngraded
    Morgan StanleyEqual-WeightDowngraded
    Stifel NicolausBuyMaintained
    NomuraBuyMaintained
    JefferiesHoldMaintained
    CitigroupBuyMaintained
    JefferiesHoldMaintained
    Janney CapitalDowngraded
    Stifel NicolausBuyMaintained
    NomuraBuyUpgraded
    BarclaysEqual-WeightMaintained
    CitigroupBuyMaintained
    BarclaysEqual-WeightMaintained
    Drexel HamiltonHoldInitiated
    BTIG ResearchBuyMaintained
    JefferiesHoldMaintained
    Sterne AgeeBuyMaintained
    Morgan StanleyOverweightUpgraded

    CIT Group Inc (CIT) Stock Earning Per Share (EPS) Forecast / Estimate


    $0.917
    The average consensus EPS for CIT is $0.917 with a high estimate of $1.144 and Low of $0.529 for the period 2021-12-31 and based on 8 Institutional Analysts.

    Last Quarter


    Actual
    Estimate
    Date
    $2.14$0.94064332021-06-30


    Earning Per Share (EPS) History


    Actual
    Estimate
    Date
    $$1.06218672021-09-30
    $2.14$0.94064332021-06-30
    $2.47$0.72244292021-03-31
    $-0.04$0.57425572020-12-31
    $0.84$0.0891832020-09-30
    $-0.99$-0.5059092020-06-30
    $-2.89$0.5448952020-03-31
    $1.27$1.10613182019-12-31
    $1.29$1.21873672019-09-30
    $1.33$1.147362019-06-30
    $1.18$1.09010312019-03-31
    $1.1$1.14925882018-12-31
    $1.2$1.15078392018-09-30
    $0.99$0.98420462018-06-30
    $0.69$0.96836782018-03-31
    $0.99$0.82056440000000012017-12-31
    $1.02$0.827192017-09-30
    $0.68$0.60458600000000012017-06-30
    $0.54$0.622162017-03-31
    $0.59$0.78244700000000012016-12-31
    $0.65$0.7930522016-09-30
    $0.9$0.77972000000000012016-06-30
    $0.73$0.76575172016-03-31
    $0.72$0.84265312015-12-31
    $0.87$0.72101882015-09-30
    $0.66$0.65935830000000012015-06-30
    $0.59$0.71905942015-03-31
    $1.37$0.96095442014-12-31
    $0.9$0.90967672014-09-30
    $1.29$0.95261182014-06-30
    $0.59$0.88298240000000012014-03-31
    $0.78$0.91304000000000012013-12-31
    $0.99$0.95048072013-09-30
    $0.91$0.9104142013-06-30
    $0.81$0.88820412013-03-31
    $0.81$0.61946332012-12-31
    $-1.52$-1.33248292012-09-30
    $-0.35$-0.57973999999999992012-06-30
    $-2.22$-1.77688292012-03-31
    $0.17$0.02091712011-12-31

    What is Analyst Ratings & Price Targets?

    The analysts provide Buy, Sell or Hold ratings after extensive research of a companies financial reports, listening to conference calls and some of them even get in contact with upper management of the company to get an overall picture of operation.

    Although institutional Analyst’s are not always correct, their ratings are followed by millions of traders around the world and they can heavily influence trading activities for a company.

    As a retail investor, going through analyst ratings will instantly provide you an idea if the stock is worth buying. Top Analysts also provide their price targets. It’s a prediction of where the stock price might go based on their analysis.

    The best way to analyze price targets is to combined average price targets of major analysts. If the average price target is much higher than the current price of the stock, then the probability of a stock going up is also high.

    What is Technical Analysis?

    Technical Analysis refers to analyzing a stock's price over a period of time. In the financial market, past price patterns are one of the strongest indicators of an asset's future performance.

    In easier terms, millions of traders use Live Charts to watch the stock prices, it is actually a single source of truth for most traders. When a stock's price reaches a significant price level/pattern in the chart, millions of traders take buy/sell positions from those levels.

    As a regular investor, one of the easiest ways to check technical analysis of a stock is through Technical Indicators. Technical Indicators are programmed algorithms that monitor price changes in the Charts and indicate Buy/Sell based on market conditions.

    Some Technical Indicators can be very powerful (e.g SMA) and some can be pretty useless. Stock research tools like iTradely heavily simplify the technical analysis process for the investors by showing Buy/Sell/Neutral ratings combined from 17 powerful technical indicators, all in one page.

    What is Earnings Per Share (EPS) and Why is it Important?

    EPS, or Earning Per Share, can tell a lot about a stock’s performance. It’s calculated by dividing a company’s profit by the number of outstanding shares of its common stocks.

    In layman’s term, earnings is an indicator of a company’s profitability. Higher the earnings, the more profitable a company is.
    Some traders pick stocks solely based on EPS or earnings Analysis, it is a very powerful indicator of a stock’s price.

    Before you buy a stock, check the company’s earnings History and Surprises. A Surprise happens when a company reports a much higher or lower actual earnings/EPS than the forecasted earnings/EPS.

    If a company reports higher EPS surprises consistently, analysts keep raising their estimates, traders become more confident in the company, driving the share price higher.

    What is Stock Sentiment?

    Stock Sentiment refers to how people speculating about the stock or what kind of trading position investors are often taking.

    There are different kinds of sentiments you can find online for a company, this includes Investor Sentiment (Percentage of investors buying or selling), News Sentiment (Is the company getting positive or negative impressions from the Press?), Social Sentiment (The overall trends about the company in social media, is it negative or positive?).