Sirius XM (NASDAQ:SIRI) will be releasing its earnings data before the market opens on Wednesday, January 31st. Analysts expect Sirius XM to post earnings of $0.05 per share for the quarter.
Sirius XM (SIRI) opened at $5.98 on Monday. The company has a debt-to-equity ratio of -6.41, a quick ratio of 0.18 and a current ratio of 0.19. Sirius XM has a 1 year low of $4.67 and a 1 year high of $6.28. The firm has a market cap of $26,520.00, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 1.33 and a beta of 1.12.
Sirius XM declared that its board has authorized a share buyback plan on Tuesday, January 23rd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 7th will be given a dividend of $0.011 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, February 6th. Sirius XM’s dividend payout ratio (DPR) is 22.22%.
A number of research firms have weighed in on SIRI. Deutsche Bank upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and boosted their price objective for the company from $5.25 to $6.50 in a research report on Friday, January 19th. Gabelli boosted their price objective on shares of Sirius XM from $4.75 to $6.10 and gave the company a “buy” rating in a research report on Thursday, October 26th. BidaskClub cut shares of Sirius XM from a “hold” rating to a “sell” rating in a research report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. cut shares of Sirius XM from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $5.36 to $5.00 in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $6.02.
In other news, CEO James E. Meyer sold 172,704 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $5.68, for a total value of $980,958.72. Following the transaction, the chief executive officer now directly owns 3,377,085 shares in the company, valued at $19,181,842.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Patrick L. Donnelly sold 1,374,479 shares of the company’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $5.70, for a total transaction of $7,834,530.30. Following the completion of the transaction, the executive vice president now owns 227,430 shares in the company, valued at $1,296,351. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.
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About Sirius XM
Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.
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