Sirius XM Holdings Inc. provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels. The company also provides streaming service that includes a range of music and non-music channels, and podcasts, as well as channels that are not available on its satellite radio service; and offers applications to allow consumers to access its streaming service on smartphones, tablets, computers, home devices, and other consumer electronic equipment, as well as connected vehicle services. In addition, it distributes satellite radios through automakers and retailers, as well as its website. Further, the company provides location-based services through two-way wireless connectivity, including safety, security, convenience, remote vehicles diagnostic, maintenance and data, and stolen or parked vehicle locator services. Additionally, it offers satellite television services, which offer music channels on the DISH Network satellite television service as a programming package; Travel Link, a suite of data services that include graphical weather, fuel prices, sports schedule and scores, and movie listings; and real-time traffic and weather services. The company was incorporated in 2013 and is headquartered in New York, New York. Sirius XM Holdings Inc. is a subsidiary of Liberty Media Corporation.
Sirius XM Stock Down 1.9 %
Shares of NASDAQ:SIRI traded down $0.13 on Friday, reaching $6.58. 18,518,980 shares of the company's stock traded hands, compared to its average volume of 15,361,893. The company has a market cap of $25.62 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 2.24 and a beta of 0.93. The business's 50 day simple moving average is $6.27 and its two-hundred day simple moving average is $6.28. Sirius XM has a 12 month low of $5.69 and a 12 month high of $6.88.
Sirius XM (NASDAQ:SIRI - Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). Sirius XM had a negative return on equity of 40.89% and a net margin of 14.15%. The business had revenue of $2.25 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the prior year, the business earned $0.10 EPS. The company's revenue was up 4.4% compared to the same quarter last year. Analysts forecast that Sirius XM will post 0.32 earnings per share for the current fiscal year.
Sirius XM Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Friday, August 5th will be given a $0.022 dividend. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $0.09 annualized dividend and a yield of 1.34%. Sirius XM's dividend payout ratio (DPR) is 29.03%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on SIRI. Rosenblatt Securities began coverage on shares of Sirius XM in a research report on Tuesday, April 19th. They set a "buy" rating and a $8.00 price objective for the company. StockNews.com lowered Sirius XM from a "buy" rating to a "hold" rating in a report on Monday, May 2nd. Citigroup reduced their price target on Sirius XM from $7.60 to $7.50 and set a "buy" rating for the company in a report on Thursday, July 7th. Morgan Stanley lowered Sirius XM from an "equal weight" rating to an "underweight" rating and set a $7.00 price target on the stock. in a research note on Monday, April 18th. Finally, Pivotal Research downgraded Sirius XM from a "buy" rating to a "hold" rating and lowered their price target for the stock from $7.55 to $7.10 in a report on Monday, August 1st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Sirius XM presently has a consensus rating of "Hold" and a consensus price target of $6.94.
Insider Transactions at Sirius XM
In other Sirius XM news, EVP Patrick L. Donnelly sold 408,274 shares of the company's stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $6.75, for a total transaction of $2,755,849.50. Following the transaction, the executive vice president now owns 791,342 shares in the company, valued at approximately $5,341,558.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Patrick L. Donnelly sold 408,274 shares of the firm's stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $6.75, for a total transaction of $2,755,849.50. Following the completion of the sale, the executive vice president now directly owns 791,342 shares in the company, valued at $5,341,558.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Thomas D. Barry sold 40,793 shares of Sirius XM stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $6.51, for a total transaction of $265,562.43. Following the sale, the vice president now owns 1,111,973 shares of the company's stock, valued at $7,238,944.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,530,437 shares of company stock valued at $10,136,827. Company insiders own 0.63% of the company's stock.
