Sirius XM Holdings Inc. (NASDAQ:SIRI) – Equities research analysts at KeyCorp dropped their Q1 2018 earnings per share estimates for shares of Sirius XM in a research note issued on Tuesday. KeyCorp analyst A. Hargreaves now anticipates that the company will post earnings of $0.03 per share for the quarter, down from their prior forecast of $0.04. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Sirius XM’s Q2 2018 earnings at $0.03 EPS and FY2018 earnings at $0.14 EPS.
A number of other equities research analysts have also weighed in on the company. Bank of America set a $7.00 price objective on Sirius XM and gave the stock a “buy” rating in a research report on Thursday, October 12th. Royal Bank of Canada started coverage on Sirius XM in a research report on Friday, September 15th. They set a “sector perform” rating and a $6.00 price objective on the stock. Pivotal Research restated a “buy” rating and set a $6.80 price objective (up previously from $6.25) on shares of Sirius XM in a research report on Wednesday, October 25th. Piper Jaffray Companies set a $7.00 price target on Sirius XM and gave the company a “buy” rating in a research report on Wednesday, October 11th. Finally, Gabelli upped their price target on Sirius XM from $4.75 to $6.10 and gave the company a “buy” rating in a research report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $6.01.
Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. Sirius XM had a negative return on equity of 93.51% and a net margin of 16.71%. Sirius XM’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Thursday, November 9th were paid a dividend of $0.011 per share. This is an increase from Sirius XM’s previous quarterly dividend of $0.01. This represents a $0.04 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Wednesday, November 8th. Sirius XM’s dividend payout ratio is 22.22%.
In other news, EVP Patrick L. Donnelly sold 1,374,479 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 227,430 shares of the company’s stock, valued at $1,296,351. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James E. Meyer sold 172,704 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 3,377,085 shares of the company’s stock, valued at $19,181,842.80. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its stake in shares of Sirius XM by 476.2% in the second quarter. Macquarie Group Ltd. now owns 18,392 shares of the company’s stock worth $101,000 after purchasing an additional 15,200 shares during the last quarter. Colony Group LLC purchased a new stake in shares of Sirius XM in the second quarter worth approximately $102,000. Toronto Dominion Bank raised its stake in shares of Sirius XM by 9.7% in the second quarter. Toronto Dominion Bank now owns 20,278 shares of the company’s stock worth $111,000 after purchasing an additional 1,799 shares during the last quarter. Kalos Management Inc. purchased a new stake in shares of Sirius XM during the third quarter valued at approximately $114,000. Finally, AE Wealth Management LLC increased its position in shares of Sirius XM by 72.7% during the third quarter. AE Wealth Management LLC now owns 23,579 shares of the company’s stock valued at $130,000 after acquiring an additional 9,924 shares during the last quarter. 19.57% of the stock is owned by hedge funds and other institutional investors.
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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