Sirius XM Holdings Inc. (SIRI) Bond Prices Fall 1.5%
An issue of Sirius XM Holdings Inc. (NASDAQ:SIRI) bonds fell 1.5% as a percentage of their face value during trading on Monday. The high-yield debt issue has a 5% coupon and will mature on August 1, 2027. The debt is now trading at $101.50 and was trading at $102.25 last week. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.
SIRI has been the subject of a number of research analyst reports. Vetr upgraded Sirius XM Holdings from a “buy” rating to a “strong-buy” rating and set a $6.28 price objective for the company in a report on Tuesday, June 20th. BidaskClub upgraded Sirius XM Holdings from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Morgan Stanley cut Sirius XM Holdings from an “equal weight” rating to an “underweight” rating and set a $4.80 price target for the company. in a research note on Wednesday, April 19th. Piper Jaffray Companies set a $7.00 price target on Sirius XM Holdings and gave the company a “buy” rating in a research note on Thursday, July 27th. Finally, Macquarie reiterated an “outperform” rating and issued a $5.85 price target on shares of Sirius XM Holdings in a research note on Thursday, April 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $5.73.
Sirius XM Holdings Inc. (SIRI) traded up 0.72% during midday trading on Monday, reaching $5.60. The company’s stock had a trading volume of 14,017,098 shares. The company has a market cap of $25.83 billion, a PE ratio of 32.94 and a beta of 1.11. The stock has a 50-day moving average price of $5.40 and a 200 day moving average price of $5.11. Sirius XM Holdings Inc. has a 12 month low of $4.05 and a 12 month high of $5.89.
Sirius XM Holdings (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. Sirius XM Holdings had a net margin of 15.47% and a negative return on equity of 99.07%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned $0.04 earnings per share. Sirius XM Holdings’s quarterly revenue was up 9.1% compared to the same quarter last year. Analysts expect that Sirius XM Holdings Inc. will post $0.18 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 10th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.04 annualized dividend and a yield of 0.71%. Sirius XM Holdings’s dividend payout ratio (DPR) is currently 25.00%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Shell Asset Management Co. raised its position in Sirius XM Holdings by 2.4% in the first quarter. Shell Asset Management Co. now owns 145,437 shares of the company’s stock valued at $749,000 after buying an additional 3,375 shares during the period. Janney Montgomery Scott LLC raised its position in Sirius XM Holdings by 3.9% in the first quarter. Janney Montgomery Scott LLC now owns 71,552 shares of the company’s stock valued at $368,000 after buying an additional 2,664 shares during the period. Acadian Asset Management LLC acquired a new position in Sirius XM Holdings during the first quarter valued at approximately $29,739,000. Korea Investment CORP acquired a new position in Sirius XM Holdings during the first quarter valued at approximately $1,711,000. Finally, First Manhattan Co. raised its position in Sirius XM Holdings by 14.4% in the first quarter. First Manhattan Co. now owns 43,744 shares of the company’s stock valued at $182,000 after buying an additional 5,500 shares during the period. Institutional investors and hedge funds own 22.30% of the company’s stock.
Sirius XM Holdings 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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