Earnings Preview: CIT Group
CIT Group (CIT) is expected to report Q3 earnings before market open Thursday, October 16, with a conference call scheduled for 9:00 am.
Guidance
Analysts are looking for EPS of 20c on revenue of $536M. The consensus range for EPS is 14c to 29c, while the consensus range for revenue is $511.40M to $554M, according to First Call. The commercial financing company Tuesday declared a 10c per share quarterly dividend, and filed to sell $8M of common shares.
Analyst Views
The stock gained Tuesday on rumors that the company would be eligible for the government's guarantee of bank debt issued over the next three years. However, Keefe Bruyette issued a note claiming that CIT would not be able to participate in this government program. Investors will listen for clarification on this issue tomorrow. Last month, Buckingham issued an optimistic note about CIT. The firm said the lender has limited need for additional funding over the next year and that the company's shares should recover. The firm has an Accumulate rating on the stock.
Related Articles
|
Hedge Fund Jobs
Job Seekers: Search jobs by category, get job alerts by email or live feed, apply online See full list of jobs »
Employers: See all recruitment options, get applications online or by email Post a job »
Trading Center
- Free E-Newsletters
- About Seeking Alpha
- About Us
- Contact Us
- What's New
- Readers Feedback
- Advertise With Us
- Contributors
- Contribute an Article
- Feature Your Book
- Our Contributors
- Anonymous Contributions
- Dispute an Article?
- Legal
- Terms of Use
- Privacy
- Copyright
This article has 1 comment:
- James Wilson
- 70 Comments
Oct 15 02:41 PMI wish the short sellers would get a life and build something instead of trying to crash things.