Sirius XM Holdings Inc. (NASDAQ:SIRI) – Research analysts at Barrington Research issued their Q1 2019 earnings estimates for shares of Sirius XM in a note issued to investors on Monday, according to Zacks Investment Research. Barrington Research analyst J. Goss expects that the company will earn $0.06 per share for the quarter. Barrington Research has a “Market Perform” rating on the stock. Barrington Research also issued estimates for Sirius XM’s Q2 2019 earnings at $0.07 EPS, Q3 2019 earnings at $0.07 EPS, Q4 2019 earnings at $0.07 EPS and FY2020 earnings at $0.33 EPS.
Several other brokerages also recently weighed in on SIRI. Zacks Investment Research downgraded Sirius XM from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Buckingham Research initiated coverage on Sirius XM in a report on Friday, January 19th. They issued a “buy” rating and a $6.50 target price for the company. BidaskClub raised Sirius XM from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Royal Bank of Canada set a $6.00 target price on Sirius XM and gave the company a “hold” rating in a report on Thursday, January 11th. Finally, Morgan Stanley raised their target price on Sirius XM from $5.35 to $5.50 and gave the company an “underweight” rating in a report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $6.12.
Shares of Sirius XM (NASDAQ SIRI) traded up $0.11 during midday trading on Tuesday, hitting $5.96. The company had a trading volume of 17,024,199 shares, compared to its average volume of 24,399,891. The company has a current ratio of 0.17, a quick ratio of 0.16 and a debt-to-equity ratio of -4.42. Sirius XM has a 52-week low of $4.73 and a 52-week high of $6.28. The firm has a market capitalization of $26,770.00, a P/E ratio of 43.11, a PEG ratio of 1.63 and a beta of 1.17.
Sirius XM announced that its Board of Directors has initiated a share repurchase program on Tuesday, January 23rd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 7th will be given a $0.011 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Tuesday, February 6th. Sirius XM’s dividend payout ratio is currently 28.57%.
In related news, EVP Joseph A. Verbrugge sold 863,570 shares of Sirius XM stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $6.10, for a total transaction of $5,267,777.00. Following the completion of the sale, the executive vice president now owns 2,986,689 shares in the company, valued at approximately $18,218,802.90. 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 Sirius XM stock in a transaction dated 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 sale, the executive vice president now owns 227,430 shares of the company’s stock, valued at approximately $1,296,351. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,586,530 shares of company stock valued at $15,157,263. Company insiders own 1.06% of the company’s stock.
A number of institutional investors have recently bought and sold shares of SIRI. Macquarie Group Ltd. increased its position in Sirius XM by 476.2% during the 2nd quarter. Macquarie Group Ltd. now owns 18,392 shares of the company’s stock worth $101,000 after purchasing an additional 15,200 shares in the last quarter. Colony Group LLC purchased a new stake in Sirius XM during the 2nd quarter worth about $102,000. Valmark Advisers Inc. increased its position in Sirius XM by 102.3% during the 4th quarter. Valmark Advisers Inc. now owns 20,230 shares of the company’s stock worth $108,000 after purchasing an additional 10,230 shares in the last quarter. Toronto Dominion Bank increased its position in Sirius XM by 9.7% during the 2nd quarter. Toronto Dominion Bank now owns 20,278 shares of the company’s stock worth $111,000 after purchasing an additional 1,799 shares in the last quarter. Finally, Cornerstone Financial Partners LLC purchased a new stake in Sirius XM during the 4th quarter worth about $113,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.
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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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