Vector Group Ltd. (VGR) Upgraded to “Hold” at Zacks Investment Research
According to Zacks, “BROOKE GROUP LTD. is principally engaged in the manufacture and sale of cigarettes and the sale of information processing systems. It also has investments in a number of additional companies engaged in a diverse group of businesses. “
A number of other research firms also recently commented on VGR. Oppenheimer Holdings Inc. reaffirmed an outperform rating and set a $27.00 price objective on shares of Vector Group in a research note on Tuesday, August 30th. TheStreet raised shares of Vector Group from a hold rating to a buy rating in a research note on Friday, September 16th.
Shares of Vector Group (NYSE:VGR) traded up 0.501% during mid-day trading on Wednesday, reaching $21.869. 99,226 shares of the company traded hands. The firm’s 50 day moving average price is $22.24 and its 200-day moving average price is $21.97. The company has a market capitalization of $2.84 billion, a P/E ratio of 44.091 and a beta of 0.39. Vector Group has a 52-week low of $20.30 and a 52-week high of $25.60.
Vector Group (NYSE:VGR) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.02. Vector Group had a net margin of 3.65% and a negative return on equity of 55.23%. The company had revenue of $438.30 million for the quarter, compared to analyst estimates of $430.70 million. During the same period in the prior year, the company earned $0.18 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. Equities analysts predict that Vector Group will post $0.68 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, September 21st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 7.35%. The ex-dividend date of this dividend is Monday, September 19th. Vector Group’s dividend payout ratio is presently 329.41%.
A number of institutional investors have recently added to or reduced their stakes in the company. Moors & Cabot Inc. boosted its position in Vector Group by 0.5% in the second quarter. Moors & Cabot Inc. now owns 12,202 shares of the company’s stock worth $271,000 after buying an additional 65 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Vector Group by 1.2% in the second quarter. Neuberger Berman Group LLC now owns 16,406 shares of the company’s stock worth $368,000 after buying an additional 200 shares during the last quarter. Archford Capital Strategies LLC raised its position in shares of Vector Group by 0.3% in the second quarter. Archford Capital Strategies LLC now owns 80,296 shares of the company’s stock worth $1,800,000 after buying an additional 254 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Vector Group by 0.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 63,033 shares of the company’s stock worth $1,413,000 after buying an additional 325 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Vector Group by 2.9% in the second quarter. Principal Financial Group Inc. now owns 11,816 shares of the company’s stock worth $265,000 after buying an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 41.93% 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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