Recap: CIT Group Q4 Earnings

Shares of CIT Group CIT rose 0.1% in pre-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share were up 18.11% year over year to $1.50, which beat the estimate of $0.57.

Revenue of $496,100,000 rose by 7.59% year over year, which beat the estimate of $451,850,000.

Looking Ahead

CIT Group hasn't issued any earnings guidance for the time being.

CIT Group hasn't issued any revenue guidance for the time being.

Details Of The Call

Date: Jan 26, 2021

Time: 08:00 AM

ET Webcast URL: https://ir.cit.com/presentations-and-events/

Recent Stock Performance

52-week high: $48.96

Company's 52-week low was at $12.02

Price action over last quarter: Up 48.69%

Company Profile

CIT Group Inc is a banking holding company and a financial holding company operating primarily in North America. It provides financing, leasing, and advisory services primarily to middle-market companies in a diverse group of industries. The company's banking subsidiary mostly operates in Southern California and offers both commercial and retail banking services. The company sources its commercial lending business through direct marketing to customers, vendors, and distributors, among other parties. The company generates revenue by earning interest on loans and investments, as well as commission, fees, and rental income on leased equipment and other financial services. The company also syndicates and sells finance receivables.