Vector Group (NYSE:VGR) announced its quarterly earnings results on Wednesday. The company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.03, MarketWatch Earnings reports. The company had revenue of $513.90 million during the quarter, compared to the consensus estimate of $495.70 million. Vector Group had a net margin of 4.75% and a negative return on equity of 18.66%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share.
Shares of VGR traded up $0.27 on Wednesday, hitting $13.71. 73,643 shares of the stock traded hands, compared to its average volume of 1,359,652. The company has a market capitalization of $1.86 billion, a P/E ratio of 24.09 and a beta of 0.29. Vector Group has a one year low of $12.56 and a one year high of $23.14.
Several equities research analysts recently weighed in on VGR shares. Zacks Investment Research downgraded shares of Vector Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 29th. UBS Group downgraded shares of Vector Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 3rd. ValuEngine downgraded shares of Vector Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. Finally, Oppenheimer reissued a “market perform” rating on shares of Vector Group in a research report on Wednesday, October 3rd.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Fort L.P. purchased a new stake in Vector Group in the second quarter worth approximately $120,000. Stone Ridge Asset Management LLC purchased a new stake in Vector Group in the third quarter worth approximately $149,000. Signition LP purchased a new stake in Vector Group in the third quarter worth approximately $160,000. Cypress Capital Group purchased a new stake in Vector Group in the second quarter worth approximately $217,000. Finally, ARP Americas LP purchased a new stake in Vector Group in the third quarter worth approximately $226,000. 45.50% of the stock is owned by institutional investors.
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About Vector Group
Vector Group Ltd., through its subsidiaries, manufactures and sells cigarettes in the United States. It operates through Tobacco, E-Cigarettes, and Real Estate segments. The company produces cigarettes in 109 combinations under the PYRAMID, EAGLE 20's, GRAND PRIX, LIGGETT SELECT, and EVE brand names, as well as USA and various partner brands, and private label brands.
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