Last $48.93 USD
Change Today +0.33 / 0.68%
Volume 1.5M
CIT On Other Exchanges
Symbol
Exchange
Berlin
New York
As of 8:04 PM 10/31/14 All times are local (Market data is delayed by at least 15 minutes).

cit group inc (CIT) Snapshot

Open
$49.00
Previous Close
$48.60
Day High
$49.27
Day Low
$48.77
52 Week High
01/9/14 - $52.72
52 Week Low
05/15/14 - $41.06
Market Cap
9.1B
Average Volume 10 Days
1.4M
EPS TTM
$5.24
Shares Outstanding
185.7M
EX-Date
11/7/14
P/E TM
9.3x
Dividend
$0.60
Dividend Yield
0.92%
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. The company operates in five segments: Corporate Finance, Transportation Finance, Trade Finance, Vendor Finance, and Consumer. The Corporate Finance segment offers lending, leasing, and other financial and advisory services to small and middle-market companies in various industries, such as commercial and industrial, communications, media and entertainment, healthcare, and energy. The Transportation Finance segment provides aircraft and railcar, leasing and financing solutions to operators and suppliers in the aviation and railcar industries. This segment also offers lending and other financial products and services to companies in the transportation sector, such as business aircraft, maritime, and aerospace and defense industries. The Trade Finance segment provides a range of domestic and international customized credit protection, lending, and outsourcing services that include working capital and term loans, factoring, receivables management products, bulk purchases of accounts receivable, import and export financing, and letter of credit programs to retail supply chain companies. The Vendor Finance segment partners with manufacturers, distributors, dealers, and product resellers to deliver financing and leasing solutions to end-user customers for the acquisition of equipment. The Consumer segment offers government-guaranteed student loan portfolios, which are in run-off. The company also provides account receivables collection, acquisition and expansion financing, asset management and servicing, credit protection, financial risk management, import and export financing, insurance, letters of credit, and mergers and acquisition advisory services, as well as debt restructuring, underwriting, and syndication services. CIT Group Inc. was founded in 1908 and is headquartered in Livingston, New Jersey.

3,330 Employees
Last Reported Date: 10/28/14
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, Chief Accounting Off...
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 2013.

cit group inc (CIT) Key Developments

CIT Group Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Impairment for the Third Quarter Ended September 30, 2014

CIT Group Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company’s total interest income was $308.3 million compared to $306.4 million a year ago. Net interest revenue was $33.1 million compared to $49.7 million a year ago. Income from continuing operations before benefit (provision) for income taxes was $116.7 million compared to $206.3 million a year ago. Income from continuing operations, before attribution of non-controlling interests was $517.9 million compared to $193.1 million a year ago. Income from continuing operations was $515.4 million or $2.76 per diluted share, compared to $192.9 million or $0.96 per diluted share, a year ago. Net income was $514.9 million or $2.76 per diluted share, compared to $199.6 million or $0.99 per diluted share, a year ago. For the year to date, the company’s total interest income was $920.3 million compared to $948.0 million a year ago. Net interest revenue was $111.0 million compared to $154.6 million a year ago. Income from continuing operations before benefit (provision) for income taxes was $458.4 million compared to $580.4 million a year ago. Income from continuing operations, before attribution of non-controlling interests was $828.0 million compared to $525.1 million a year ago. Income from continuing operations was $825.5 million or $4.31 per diluted share, compared to $521.4 million or $2.58 per diluted share, a year ago. Net income was $879.0 million or $4.59 per diluted share, compared to $545.8 million or $2.70 per diluted share, a year ago. The company reported impairment for the third quarter ended September 30, 2014. For the quarter, the company reported impairment on assets held for sale of $54.1 million compared to $44.6 million a year ago.

CIT Group Seeks Acquisitions

CIT Group Inc. (NYSE:CIT) will consider acquisitions. Scott Parker, Chief Executive Officer of CIT Group said, "We continue to deploy capital for organic growth and accretive acquisitions and return capital to our shareholders through repurchases and dividends."

CIT Group Inc. Declares Quarterly Dividend, Payable on November 26, 2014

CIT Group Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per common share on its outstanding common stock. The common stock dividend is payable on November 26, 2014 to common shareholders of record as of November 12, 2014.

 

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Industry Analysis

CIT

Industry Average

Valuation CIT Industry Range
Price/Earnings 9.6x
Price/Sales 3.8x
Price/Book 1.0x
Price/Cash Flow 8.9x
TEV/Sales NM Not Meaningful
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