Vector Group Ltd. (VGR) Trading Down 5.4%
Shares of Vector Group Ltd. (NYSE:VGR) dropped 5.4% during mid-day trading on Monday . The company traded as low as $21.51 and last traded at $21.74, with a volume of 400,464 shares trading hands. The stock had previously closed at $22.98.
VGR has been the subject of a number of research reports. Zacks Investment Research raised Vector Group from a “strong sell” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Thursday, June 30th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $27.00 price objective on shares of Vector Group in a research report on Tuesday, August 30th. Finally, TheStreet raised Vector Group from a “hold” rating to a “buy” rating in a research report on Friday, September 16th.
The firm has a 50 day moving average price of $22.20 and a 200 day moving average price of $22.03. The company has a market capitalization of $2.81 billion, a P/E ratio of 43.67 and a beta of 0.39.
Vector Group (NYSE:VGR) last issued its earnings results on Thursday, July 28th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by $0.02. The business had revenue of $438.30 million for the quarter, compared to the consensus estimate of $430.70 million. Vector Group had a net margin of 3.65% and a negative return on equity of 55.23%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. Equities analysts expect that Vector Group Ltd. will post $0.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, September 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 7.39%. The ex-dividend date of this dividend is Monday, September 19th. Vector Group’s payout ratio is 329.41%.
Several hedge funds have recently modified their holdings of VGR. BNP Paribas Arbitrage SA boosted its stake in Vector Group by 7,067.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,587 shares of the company’s stock worth $103,000 after buying an additional 4,523 shares in the last quarter. NEXT Financial Group Inc boosted its stake in Vector Group by 203.9% in the second quarter. NEXT Financial Group Inc now owns 5,755 shares of the company’s stock worth $129,000 after buying an additional 3,861 shares in the last quarter. BlackRock Japan Co. Ltd boosted its stake in Vector Group by 72.3% in the first quarter. BlackRock Japan Co. Ltd now owns 6,583 shares of the company’s stock worth $150,000 after buying an additional 2,763 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Vector Group by 13.7% in the first quarter. Envestnet Asset Management Inc. now owns 6,816 shares of the company’s stock worth $156,000 after buying an additional 823 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in Vector Group during the second quarter worth approximately $198,000. Institutional investors own 44.03% of the company’s stock.
About Vector Group
Vector Group Ltd. is a holding company. The Company is engaged in the manufacture and sale of cigarettes in the United States through its Liggett Group LLC (Liggett) and Vector Tobacco Inc (Vector Tobacco) subsidiaries; the sale of electronic cigarettes (e-cigarettes) in the United States through its Zoom E-Cigs LLC (Zoom) subsidiary, and the real estate business through its New Valley LLC subsidiary, which is seeking to acquire or invest in additional real estate properties or projects.
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