Vector Group Ltd. (NYSE:VGR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
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 brokerages have also commented on VGR. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $27.00 price objective on shares of Vector Group in a report on Tuesday, August 30th. TheStreet raised Vector Group from a “hold” rating to a “buy” rating in a report on Friday, September 16th.
Shares of Vector Group (NYSE:VGR) opened at 21.43 on Wednesday. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 43.21 and a beta of 0.39. Vector Group has a 52-week low of $20.30 and a 52-week high of $25.60. The company’s 50 day moving average price is $22.23 and its 200 day moving average price is $21.97.
Vector Group (NYSE:VGR) last issued 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. The company had revenue of $438.30 million for the quarter, compared to analyst estimates 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 period in the prior year, the company posted $0.18 EPS. Analysts forecast that Vector Group will post $0.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Wednesday, September 21st were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 7.47%. The ex-dividend date was Monday, September 19th. Vector Group’s dividend payout ratio (DPR) is currently 329.41%.
A number of hedge funds have recently added to or reduced their stakes in VGR. Moors & Cabot Inc. raised its stake 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 during the period. BlackRock Group LTD raised its stake in Vector Group by 37.1% in the first quarter. BlackRock Group LTD now owns 120,465 shares of the company’s stock worth $2,751,000 after buying an additional 32,628 shares during the period. Hilton Capital Management LLC raised its stake in Vector Group by 5.3% in the second quarter. Hilton Capital Management LLC now owns 522,473 shares of the company’s stock worth $11,714,000 after buying an additional 26,311 shares during the period. Loomis Sayles & Co. L P raised its stake in Vector Group by 0.6% in the first quarter. Loomis Sayles & Co. L P now owns 642,466 shares of the company’s stock worth $14,674,000 after buying an additional 3,877 shares during the period. Finally, Sterneck Capital Management LLC acquired a new stake in Vector Group during the first quarter worth about $357,000. 41.93% of the stock is currently owned by hedge funds and other institutional investors.
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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