Q2 2022 Earnings Forecast for Vector Group Ltd. Issued By Oppenheimer (NYSE:VGR)

Vector Group Ltd. (NYSE:VGRGet Rating) – Research analysts at Oppenheimer lifted their Q2 2022 earnings estimates for Vector Group in a report released on Tuesday, May 10th. Oppenheimer analyst I. Zaffino now forecasts that the company will post earnings per share of $0.34 for the quarter, up from their previous estimate of $0.32. Oppenheimer also issued estimates for Vector Group’s Q3 2022 earnings at $0.29 EPS.

VGR has been the topic of a number of other reports. StockNews.com initiated coverage on shares of Vector Group in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Zacks Investment Research upgraded shares of Vector Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th. Finally, Barclays upgraded shares of Vector Group from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $12.00 to $16.00 in a research report on Thursday, March 31st.

Shares of VGR opened at $11.59 on Friday. The firm’s 50 day simple moving average is $11.80 and its 200 day simple moving average is $12.92. The company has a market capitalization of $1.80 billion, a P/E ratio of 8.08 and a beta of 1.00. Vector Group has a 1-year low of $10.03 and a 1-year high of $17.39.

Vector Group (NYSE:VGRGet Rating) last announced its earnings results on Tuesday, March 1st. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.08). The company had revenue of $313.67 million during the quarter, compared to analysts’ expectations of $612.20 million. Vector Group had a net margin of 9.80% and a negative return on equity of 35.40%.

Institutional investors have recently modified their holdings of the company. Antonetti Capital Management LLC grew its holdings in shares of Vector Group by 54.5% in the first quarter. Antonetti Capital Management LLC now owns 2,808 shares of the company’s stock worth $34,000 after purchasing an additional 991 shares during the last quarter. First Quadrant LLC CA purchased a new stake in Vector Group in the first quarter worth $39,000. Spire Wealth Management lifted its stake in Vector Group by 152.2% in the fourth quarter. Spire Wealth Management now owns 4,795 shares of the company’s stock worth $55,000 after acquiring an additional 2,894 shares during the period. UMB Bank N A MO purchased a new stake in Vector Group in the fourth quarter worth $59,000. Finally, SG3 Management LLC purchased a new stake in Vector Group in the fourth quarter worth $86,000. Hedge funds and other institutional investors own 62.76% of the company’s stock.

In other news, Director Bennett S. Lebow sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 30th. The shares were sold at an average price of $10.69, for a total value of $1,069,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider J Bryant Kirkland III bought 3,250 shares of the business’s stock in a transaction dated Friday, March 11th. The stock was purchased at an average price of $10.19 per share, for a total transaction of $33,117.50. The disclosure for this purchase can be found here. 7.54% of the stock is owned by company insiders.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 30th. Shareholders of record on Tuesday, March 22nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date was Monday, March 21st. Vector Group’s payout ratio is currently 56.34%.

About Vector Group (Get Rating)

Vector Group Ltd., through its subsidiaries, manufactures and sells cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes in 100 combinations under the EAGLE 20's, Pyramid, Montego, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.

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