Vector Group (NYSE:VGR) announced its quarterly earnings results on Wednesday. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.03, MarketWatch Earnings reports. Vector Group had a negative return on equity of 18.66% and a net margin of 4.75%. The business had revenue of $513.90 million during the quarter, compared to the consensus estimate of $495.70 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. Vector Group’s revenue was up 6.0% compared to the same quarter last year.
Vector Group stock traded up $0.21 during trading on Wednesday, hitting $13.65. 79,095 shares of the company were exchanged, compared to its average volume of 1,359,652. Vector Group has a 52 week low of $12.56 and a 52 week high of $23.14. The company has a market capitalization of $1.86 billion, a P/E ratio of 23.96 and a beta of 0.29.
Institutional investors have recently made changes to their positions in the stock. Fort L.P. purchased a new position in Vector Group in the second quarter worth $120,000. Stone Ridge Asset Management LLC purchased a new position in Vector Group in the third quarter worth $149,000. Signition LP purchased a new position in Vector Group in the third quarter worth $160,000. Cypress Capital Group purchased a new position in Vector Group in the second quarter worth $217,000. Finally, ARP Americas LP purchased a new position in Vector Group in the third quarter worth $226,000. Institutional investors and hedge funds own 45.50% of the company’s stock.
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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