Sirius XM Holdings Inc. (NASDAQ:SIRI) – Equities research analysts at KeyCorp increased their Q4 2017 earnings per share estimates for shares of Sirius XM in a research note issued on Wednesday, Zacks Investment Research reports. KeyCorp analyst A. Hargreaves now forecasts that the company will post earnings of $0.05 per share for the quarter, up from their previous forecast of $0.04. KeyCorp also issued estimates for Sirius XM’s Q3 2018 earnings at $0.06 EPS and Q4 2018 earnings at $0.06 EPS.
SIRI has been the subject of a number of other reports. Deutsche Bank raised Sirius XM from a “hold” rating to a “buy” rating and raised their price target for the company from $5.25 to $6.50 in a report on Friday, January 19th. Gabelli raised their price target on Sirius XM from $4.75 to $6.10 and gave the company a “buy” rating in a report on Thursday, October 26th. Zacks Investment Research raised Sirius XM from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a report on Thursday, November 2nd. BidaskClub cut Sirius XM from a “hold” rating to a “sell” rating in a report on Wednesday, December 20th. Finally, Barclays raised their price target on Sirius XM from $4.50 to $5.00 and gave the company an “equal weight” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $6.05.
Shares of Sirius XM (NASDAQ SIRI) remained flat at $$6.11 on Friday. The company had a trading volume of 20,389,003 shares, compared to its average volume of 22,350,000. Sirius XM has a one year low of $4.67 and a one year high of $6.28. The firm has a market capitalization of $27,450.00, a price-to-earnings ratio of 43.64, a PEG ratio of 1.39 and a beta of 1.17. The company has a current ratio of 0.17, a quick ratio of 0.18 and a debt-to-equity ratio of -4.42.
Several large investors have recently bought and sold shares of SIRI. Principal Financial Group Inc. boosted its position in shares of Sirius XM by 925.9% in the 2nd quarter. Principal Financial Group Inc. now owns 3,803,755 shares of the company’s stock worth $20,807,000 after purchasing an additional 3,432,999 shares during the last quarter. Pacad Investment Ltd. bought a new position in shares of Sirius XM in the 2nd quarter worth $172,000. Engineers Gate Manager LP boosted its position in shares of Sirius XM by 603.6% in the 2nd quarter. Engineers Gate Manager LP now owns 97,890 shares of the company’s stock worth $535,000 after purchasing an additional 83,978 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Sirius XM by 3.5% in the 2nd quarter. Private Advisor Group LLC now owns 114,906 shares of the company’s stock worth $614,000 after purchasing an additional 3,833 shares during the last quarter. Finally, Eaton Vance Management bought a new position in shares of Sirius XM in the 2nd quarter worth $277,000. Institutional investors and hedge funds own 19.62% of the company’s stock.
In other news, EVP Patrick L. Donnelly sold 1,374,479 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $5.70, for a total value of $7,834,530.30. Following the transaction, the executive vice president now directly owns 227,430 shares in the company, valued at approximately $1,296,351. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James E. Meyer sold 172,704 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $5.68, for a total value of $980,958.72. Following the completion of the transaction, the chief executive officer now owns 3,377,085 shares in the company, valued at $19,181,842.80. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 7th will be paid a $0.011 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $0.04 annualized dividend and a dividend yield of 0.72%. Sirius XM’s dividend payout ratio (DPR) is currently 28.57%.
Sirius XM declared that its board has authorized a stock buyback program on Tuesday, January 23rd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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Sirius XM Company Profile
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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