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CIT Group Inc (CIT) Files 10-K for the Fiscal Year Ended on December 31, 2018

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CIT Group Inc (CIT) files its latest 10-K with SEC for the fiscal year ended on December 31, 2018. CIT Group Inc is a banking corporation provides financing, leasing and advisory services to middle-market companies in a diverse group of industries. The group offers retail banking through its subsidiary. It also syndicates and sells finance receivables. CIT Group Inc has a market cap of $5.15 billion; its shares were traded at around $51.03 with a P/E ratio of 14.15 and P/S ratio of 2.54. The dividend yield of CIT Group Inc stocks is 1.80%.


For the last quarter CIT Group Inc reported a revenue of $535.8 million, compared with the revenue of $666.8 million during the same period a year ago. For the latest fiscal year the company reported a revenue of $2.4 billion, a decrease of 3.2% from the previous year. For the last five years CIT Group Inc had an average revenue decline of 0.6% a year.

The reported diluted earnings per share was $3.61 for the year. The profitability rank of the company is 4 (out of 10).

At the end of the fiscal year, CIT Group Inc has the cash and cash equivalents of $1.8 billion, compared with $1.7 billion in the previous year. The long term debt was $8.1 billion, compared with $9 billion in the previous year. CIT Group Inc has a financial strength rank of 3 (out of 10).

At the current stock price of $51.03, CIT Group Inc is traded at 27.9% discount to its historical median P/S valuation band of $70.77. The P/S ratio of the stock is 2.54, while the historical median P/S ratio is 3.52. The stock lost 3.1% during the past 12 months.

Directors and Officers Recent Trades:

  • President, Real Estate Finance Matthew Galligan sold 5,375 shares of CIT stock on 02/19/2019 at the average price of $50.82. The price of the stock has increased by 0.41% since.

For the complete 20-year historical financial data of CIT, click here.

This article first appeared on GuruFocus.