Sirius XM (NASDAQ:SIRI) Issues Quarterly Earnings Results

Sirius XM (NASDAQ:SIRI) released its quarterly earnings results on Thursday. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05, Briefing.com reports. Sirius XM had a net margin of 12.98% and a negative return on equity of 141.29%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the business earned $0.06 EPS. The company’s revenue was down 5.2% compared to the same quarter last year. Sirius XM updated its FY 2020
Pre-Market guidance to EPS.

SIRI traded up $0.01 during trading on Friday, reaching $5.88. 35,189,989 shares of the company’s stock were exchanged, compared to its average volume of 22,996,226. Sirius XM has a 1 year low of $4.11 and a 1 year high of $7.40. The stock has a market capitalization of $25.75 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19. The company’s fifty day simple moving average is $5.85 and its 200-day simple moving average is $6.00.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 7th will be given a dividend of $0.0133 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Thursday, August 6th. Sirius XM’s dividend payout ratio is presently 25.00%.

In other Sirius XM news, Director Gregory B. Maffei sold 84,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $5.60, for a total transaction of $474,600.00. Following the completion of the transaction, the director now directly owns 515,610 shares of the company’s stock, valued at approximately $2,887,416. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.93% of the company’s stock.

SIRI has been the topic of a number of recent analyst reports. Pivotal Research restated a “buy” rating and issued a $7.50 price target on shares of Sirius XM in a report on Thursday. Barrington Research restated a “buy” rating and issued a $7.50 price target on shares of Sirius XM in a report on Thursday. Morgan Stanley raised their price target on shares of Sirius XM from $6.25 to $6.75 and gave the company an “equal weight” rating in a report on Monday, June 15th. Deutsche Bank raised their price target on shares of Sirius XM from $7.00 to $7.50 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Co lowered their price target on shares of Sirius XM from $9.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $7.08.

Sirius XM Company Profile

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.

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Earnings History for Sirius XM (NASDAQ:SIRI)

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