Credit Suisse (SIX:CSGN) analyst Moshe Orenbuch maintained a Hold rating on CIT Group (NYSE:CIT) on Tuesday, setting a price target of $24, which is approximately 27.12% above the present share price of $18.88.
Orenbuch expects CIT Group to post earnings per share (EPS) of -$6.40 for the third quarter of 2020.
The current consensus among 6 TipRanks analysts is for a Moderate Buy rating of shares in CIT Group, with an average price target of $35.
The analysts price targets range from a high of $65 to a low of $24.
In its latest earnings report, released on 03/31/2020, the company reported a quarterly revenue of $628.3 million and a net profit of $0. The company's market cap is $1.85 billion.
According to TipRanks.com, Credit Suisse analyst Moshe Orenbuch is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 8.3% and a 64.65% success rate.
CIT Group, Inc. is a financial holding company, which provides financing, leasing and advisory services. It operates through the following business segments: Commercial Banking, Consumer Banking and Corporate. The Commercial Banking segment consists of four divisions, commercial finance, rail, and real estate finance and business capital. It provides a range of lending, leasing and deposit products, as well as ancillary products and services, including factoring, cash management and advisory services, primarily to small and medium- sized companies, as well as to the rail industry. The Consumer Banking segment includes retail Banking, consumer lending, and SBA lending, which are grouped together for purposes of discussion as other consumer banking and legacy consumer mortgages. The Corporate segment consists of businesses and portfolios that they no longer consider strategic. These portfolios include equipment financing, secured lending and leasing and advisory services to small and middle-market businesses. The company was founded by Henry Ittelson in 1908 and is headquartered in New York, NY.