CIT Group Inc (CIT): Today's Featured Financial Services Laggard
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model
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(
) pushed the Financial Services industry lower today making it today's featured Financial Services laggard. The industry as a whole closed the day up 0.3%. By the end of trading, CIT Group fell 47 cents (-1.2%) to $37.78 on average volume. Throughout the day, 1.6 million shares of CIT Group exchanged hands as compared to its average daily volume of 1.4 million shares. The stock ranged in price between $37.40-$38.23 after having opened the day at $38.05 as compared to the previous trading day's close of $38.25. Other companies within the Financial Services industry that declined today were:
(
), down 8.4%,
(
), down 7.4%,
Security National Financial Corporation
(
), down 4.2%, and
(
), down 4.2%.
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CIT Group Inc. operates as the holding company for CIT bank that provides commercial financing, leasing products, and other services to small and middle market businesses. CIT Group has a market cap of $7.59 billion and is part of the financial sector. The company has a P/E ratio of -9.7, below the S&P 500 P/E ratio of 17.7. Shares are up 8.4% year to date as of the close of trading on Friday. Currently there are seven analysts that rate CIT Group a buy, no analysts rate it a sell, and five rate it a hold.
TheStreet Ratings rates CIT Group as a
. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income and disappointing return on equity.
- You can view the full CIT Group Ratings Report.
On the positive front,
Millennium India Acquisition Corporation
(
), up 39.9%,
(
), up 7.2%,
(
), up 4.9%, and
(
), up 4.4%, were all gainers within the financial services industry with
(
) being today's featured financial services industry leader.
- Use our financial services section to find industry-relevant news.
- Or find some new ideas from our top rated stocks lists.
For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the financial services industry could consider
(
) while those bearish on the financial services industry could consider
(
).
- Find other investment ideas from our top rated ETFs lists.
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