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Last $47.02 USD
Change Today -0.02 / -0.04%
Volume 287.2K
CIT On Other Exchanges
Symbol
Exchange
Berlin
As of 10:57 AM 08/3/15 All times are local (Market data is delayed by at least 15 minutes).

cit group inc (CIT) Snapshot

Open
$47.08
Previous Close
$47.04
Day High
$47.17
Day Low
$46.65
52 Week High
11/21/14 - $49.98
52 Week Low
01/29/15 - $43.21
Market Cap
8.2B
Average Volume 10 Days
2.5M
EPS TTM
$3.11
Shares Outstanding
174.1M
EX-Date
08/12/15
P/E TM
15.1x
Dividend
$0.60
Dividend Yield
1.28%
Current Stock Chart for CIT GROUP INC (CIT)

cit group inc (CIT) Details

CIT Group Inc. operates as the holding company for CIT bank that provides commercial financing and leasing products; and a suite of savings options in the United States. Its Transportation & International Finance segment offers leasing and financing solutions to operators and suppliers in the aviation and railcar industries. It offers aircraft leasing, lending, asset management, and advisory services to airlines; and term loans, leases, pre-delivery financing, fractional share financing, and vendor/manufacturer financing for corporate and private owners of business jets. This segment also provides secured loans, sale-leasebacks, and bareboat charters to owners and operators of oceangoing cargo vessels; and equipment financing, lending, and leasing to small and middle-market businesses. The company’s North American Commercial Finance segment offers commercial services, such as factoring, receivable management products, and secured financing to apparel, textile, furniture, home furnishings, and consumer electronics industries; corporate finance, including financing options and advisory services to commercial and industrial, communications, media and entertainment, energy, and healthcare industries; leasing and equipment loan solutions; and commercial real estate loans to developers and other commercial real estate professionals. The company also offers various products and services, including acquisition and expansion financing, asset-based loans, credit protection, debtor-in-possession/turnaround financing, deposits, enterprise value and cash flow loans, financial risk management, import and export financing, insurance, letters of credit/trade acceptances, mergers and acquisition advisory services, and secured lines of credit, as well as debt restructuring, underwriting, and syndication services. CIT Group Inc. was founded in 1908 and is headquartered in Livingston, New Jersey.

3,360 Employees
Last Reported Date: 07/28/15
Founded in 1908

cit group inc (CIT) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $1.0M
President, Chairman of CIT Bank, Chief Execut...
Total Annual Compensation: $752.9K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $501.9K
President of Transportation & International F...
Total Annual Compensation: $501.9K
Chief Risk Officer and Executive Vice Preside...
Total Annual Compensation: $501.9K
Compensation as of Fiscal Year 2014.

cit group inc (CIT) Key Developments

CIT Group Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Net Charge-Offs for the Second Quarter of 2015

CIT Group Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company’s total interest income was USD 283.8 million, net interest revenue was USD 18.6 million, income from continuing operations before provision for income taxes was USD 153.1 million and net income was USD 115.3 million or USD 0.66 per basic and diluted share against total interest income of USD 309.8 million, net interest revenue of USD 47.6 million, income from continuing operations before provision for income taxes of USD 219.0 million and net income of USD 246.9 million or USD 1.29 per diluted share for the same period a year ago. Income from continuing operations was USD 115.3 million or USD 0.66 per basic and diluted share compared to USD 195.2 million or USD 1.02 per diluted share a year ago. Book value per common share was USD 50.91 against USD 46.42 a year ago. Tangible book value per common share was USD 47.51 against USD 44.16 a year ago. The increases in book value and tangible book value per share primarily reflected net income, including the partial reversals of the valuation allowance in the second half of 2014, and continued net benefit from share repurchases. For the six months, the company’s total interest income was USD 564.8 million, net interest revenue was USD 28.3 million, income from continuing operations before provision for income taxes was USD 300.7 million and net income was USD 219.0 million or USD 1.24 per basic and diluted share against total interest income of USD 612.0 million, net interest revenue of USD 77.9 million, income from continuing operations before provision for income taxes of USD 341.7 million and net income of USD 364.1 million or USD 1.88 per diluted share for the same period a year ago. Income from continuing operations was USD 219.0 million or USD 1.24 per basic and diluted share compared to USD 310.1 million or USD 1.60 per diluted share a year ago. Net charge-offs were USD 23 million, or 0.48% as a percentage of average finance receivables, against USD 21 million (0.45%) in the year-ago quarter. Impairment on assets held for sale was USD 11.0 million for the second quarter of 2015 against USD 14.3 million a year ago.

CIT North American Commercial Finance Announces Unaudited Earnings Results for the Second Quarter Ended June 30, 2015

CIT North American Commercial Finance announced unaudited earnings results for the second quarter ended June 30, 2015. Pre-tax earnings were $47 million, compared to $93 million in the year-ago quarter and $36 million in the prior quarter. The decrease from the year-ago quarter reflects higher credit costs and operating expenses, lower interest recoveries, and the impact of portfolio re-pricing. The increase from the prior quarter reflects lower credit costs, higher capital market fees, and higher net finance revenue. Net finance revenue of $133 million decreased from $146 million in the year-ago quarter reflecting lower levels of loan prepayments and interest recoveries.

CIT Transportation & International Finance Announces Unaudited Earnings Results for the Second Quarter Ended June 30, 2015

CIT Transportation & International Finance announced unaudited earnings results for the second quarter ended June 30, 2015. Pre-tax earnings were $157 million, up from $148 million in the year-ago quarter and unchanged from the prior quarter. The increase from the year-ago quarter primarily reflected higher gains on asset sales and a lower provision for credit losses. The second quarter results reflects lower provision for credit losses and operating expenses offset by reduced gains on asset sales, as compared to the prior quarter.

 

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Industry Analysis

CIT

Industry Average

Valuation CIT Industry Range
Price/Earnings 8.6x
Price/Sales 3.2x
Price/Book 0.9x
Price/Cash Flow 8.3x
TEV/Sales NM Not Meaningful
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