Market Overview

Earnings Preview: CIT Group

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CIT Group (NYSE: CIT) announces its next round of earnings this Tuesday, July 24. Here's Benzinga's advanced look at CIT Group's Q2 earnings report.

Earnings and Revenue

Sell-side analysts expect CIT Group's EPS to be near 98 cents on sales of $479 million.

In the same quarter last year, CIT Group posted a profit of 68 cents on sales of $474.1 million. The Wall Street estimate would represent a 44.12 percent increase in the company's earnings. Revenue would be up 1.04 percent from the year-ago period. CIT Group's reported EPS has stacked up against analyst estimates in the past like this:

 

Quarter Q1 2018 Q4 2017 Q3 2017 Q2 2017
EPS Estimate 0.97 0.8 0.81 0.61
EPS Actual 0.74 0.99 1.02 0.68

Stock Performance

Over the last 52-week period, shares are up 5.2 percent. Given that these returns are generally positive, long-term shareholders are probably content going into this earnings release. Over the past 90 days, analysts have generally adjusted their estimates higher for EPS and revenues. Analysts seem to have settled on a Neutral rating with CIT Group. The strength of this rating has maintained conviction over the past three months.

Conference Call

Don't be surprised to see the stock move on comments made during its conference call. CIT Group's Q2 conference call is scheduled to begin at 8:00 a.m. ET and can be accessed here: http://ir.cit.com/CorporateProfile.aspx?iid=102820

Posted-In: Earnings News

 

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