Today’s Hot Buzz: CIT Group Inc. (NYSE:CIT)

The shares of CIT Group Inc. (NYSE:CIT) currently has mean rating of 2.44 while 4 analysts have recommended the shares as “BUY”, 3 recommended as “OUTPERFORM” and 10 recommended as “HOLD”. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell.

The company’s mean estimate for sales for the current quarter ending June-16 is 619.10 million by 10 analysts. The means estimate of sales for the year ending Dec-16 is 2.53 billion by 11 analysts.

The mean price target for the shares of CIT Group Inc. (NYSE:CIT) is at 41.82 while the highest price target suggested by the analysts is 60.00 and low price target is 33.00. The mean price target is calculated keeping in view the consensus of 17 brokerage firms.

The average estimate of EPS for the current fiscal quarter for CIT Group Inc. (NYSE:CIT) stands at 0.79 while the EPS for the current year is fixed at 3.15 by 16 analysts.

The next one year’s EPS estimate is set at 3.74 by 16 analysts while a year ago the analysts suggested the company’s EPS at 3.15. The analysts also projected the company’s long-term growth at -11.96% for the upcoming five years.

In its latest quarter ended on 31^st March 2016, CIT Group Inc. (NYSE:CIT) reported earnings of $0.73. The posted earnings missed the analyst’s consensus by -$0.03 with the surprise factor of -3.90%. In the matter of earnings surprises, the term “Cockroach Effect” is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.

On June 8, 2016 CIT Group Inc. (NYSE:CIT) A period with ample sources of capital, very low cap rates and high valuations has set the stage for commercial real estate in 2016, but the impact of coming regulations is yet to be factored in. Nonetheless, as long as there are only gradual increases in interest rates and continued modest increases in employment, the commercial real estate market should operate smoothly. These are some of the observations presented by Matt Galligan, President, CIT Real Estate Finance, a division of CIT Group Inc. (CIT), cit.com, a leading provider of commercial lending and leasing services, in “Regulatory Uncertainty Impacts Commercial Real Estate” (cit.com/galligan), the latest piece of market intelligence in the CIT Executive Insights video series.

“Collateralized Mortgage Backed Securities — one major source of capital — are now bracing for two new regulations that take effect in the fourth quarter,” said Galligan. “The market is struggling to interpret the specifics of these regulations. Alternatively, on a positive note, employment growth has been smooth and steady, which is a great thing for real estate.”