Vector Group (NYSE:VGR) Sets New 12-Month Low Following Weak Earnings

Vector Group Ltd. (NYSE:VGR)’s stock price reached a new 52-week low on Thursday following a weaker than expected earnings announcement. The stock traded as low as $9.46 and last traded at $9.60, with a volume of 363724 shares trading hands. The stock had previously closed at $10.45.

The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). Vector Group had a net margin of 12.89% and a negative return on equity of 24.93%. The company had revenue of $324.57 million during the quarter, compared to the consensus estimate of $333.30 million. During the same quarter in the previous year, the business posted $0.22 EPS.

Vector Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, March 4th were issued a $0.20 dividend. The ex-dividend date was Friday, March 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.45%. Vector Group’s payout ratio is presently 68.97%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Deutsche Bank AG lifted its position in Vector Group by 95.7% during the 3rd quarter. Deutsche Bank AG now owns 534,358 shares of the company’s stock worth $5,686,000 after buying an additional 261,358 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Vector Group by 14.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 822,119 shares of the company’s stock valued at $8,747,000 after purchasing an additional 101,171 shares during the last quarter. Invesco Ltd. raised its position in Vector Group by 24.2% in the 3rd quarter. Invesco Ltd. now owns 1,249,177 shares of the company’s stock worth $13,291,000 after purchasing an additional 243,214 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Vector Group by 21.4% during the 3rd quarter. Mackenzie Financial Corp now owns 61,222 shares of the company’s stock worth $636,000 after buying an additional 10,790 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its position in Vector Group by 14.8% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 438,528 shares of the company’s stock valued at $4,666,000 after buying an additional 56,538 shares during the last quarter. 64.09% of the stock is owned by institutional investors and hedge funds.

Vector Group Trading Down 9.4 %

The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 8.22 and a beta of 1.06. The company has a 50 day moving average price of $10.65 and a 200 day moving average price of $10.78.

Vector Group Company Profile

Vector Group Ltd., through its subsidiaries, engages in the manufacture and sale of cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes under the Montego, EAGLE 20's, Pyramid, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.