B. Riley Weighs in on Sirius XM Holdings Inc.’s FY2018 Earnings (SIRI)
Sirius XM Holdings Inc. (NASDAQ:SIRI) – Equities research analysts at B. Riley increased their FY2018 EPS estimates for shares of Sirius XM in a report released on Tuesday. B. Riley analyst B. Crockett now forecasts that the company will post earnings of $0.24 per share for the year, up from their previous estimate of $0.21. B. Riley currently has a “Buy” rating on the stock.
Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of Sirius XM from a “sell” rating to a “strong sell” rating in a research note on Thursday. Pivotal Research reissued a “buy” rating and issued a $6.80 price objective (up previously from $6.25) on shares of Sirius XM in a report on Wednesday, October 25th. Royal Bank of Canada set a $6.00 price objective on Sirius XM and gave the company a “hold” rating in a report on Thursday, January 11th. Zacks Investment Research raised Sirius XM from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Thursday, November 2nd. Finally, Barrington Research downgraded Sirius XM from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $5.94.
Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Wednesday, October 25th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Sirius XM had a net margin of 16.71% and a negative return on equity of 93.51%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the business earned $0.04 EPS.
A number of institutional investors have recently made changes to their positions in SIRI. Swiss National Bank lifted its holdings in shares of Sirius XM by 0.5% during the third quarter. Swiss National Bank now owns 6,046,258 shares of the company’s stock worth $33,375,000 after buying an additional 27,200 shares in the last quarter. Chevy Chase Trust Holdings Inc. lifted its holdings in shares of Sirius XM by 19.2% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 5,419,576 shares of the company’s stock worth $29,915,000 after buying an additional 874,255 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sirius XM by 9.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 423,790 shares of the company’s stock worth $2,339,000 after buying an additional 36,867 shares in the last quarter. Pictet Asset Management Ltd. lifted its holdings in shares of Sirius XM by 5.7% during the third quarter. Pictet Asset Management Ltd. now owns 784,400 shares of the company’s stock worth $4,330,000 after buying an additional 42,100 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Sirius XM by 1.2% during the second quarter. Vanguard Group Inc. now owns 78,433,991 shares of the company’s stock worth $429,035,000 after buying an additional 957,278 shares in the last quarter. 19.64% of the stock is owned by institutional investors and hedge funds.
In other Sirius XM 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 transaction of $7,834,530.30. Following the completion of the sale, the executive vice president now owns 227,430 shares of the company’s stock, valued at approximately $1,296,351. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $5.68, for a total value of $980,958.72. Following the sale, the chief executive officer now directly owns 3,377,085 shares of the company’s stock, valued at approximately $19,181,842.80. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.
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About Sirius XM
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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