Sirius XM (NASDAQ:SIRI) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a report published on Wednesday. The brokerage issued a hold rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Barrington Research restated an outperform rating and issued a $47.50 price objective on shares of Sirius XM in a report on Monday, July 15th. Rosenblatt Securities raised their price target on Sirius XM from $3.40 to $28.00 and gave the company a neutral rating in a research note on Monday, September 16th. Guggenheim lowered their price objective on Sirius XM from $33.00 to $29.00 and set a neutral rating for the company in a research report on Thursday, June 27th. Citigroup downgraded Sirius XM from a neutral rating to a sell rating and set a $28.00 price objective on the stock. in a report on Thursday, July 25th. Finally, The Goldman Sachs Group decreased their target price on Sirius XM from $32.50 to $26.00 and set a neutral rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $36.91.

Sirius XM Trading Up 3.9 %

NASDAQ:SIRI opened at $24.95 on Wednesday. Sirius XM has a 12-month low of $22.73 and a 12-month high of $57.80. The firm has a market cap of $95.97 billion, a PE ratio of 75.61, a price-to-earnings-growth ratio of 0.90 and a beta of 1.08. The stock has a fifty day moving average price of $31.34 and a 200 day moving average price of $32.01.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Equities analysts forecast that Sirius XM will post 3.14 EPS for the current year.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.266 per share. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.26%. Sirius XM’s dividend payout ratio (DPR) is 321.21%.

Insider Activity at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the transaction, the insider now directly owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Sirius XM

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Sirius XM by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock worth $299,111,000 after acquiring an additional 363,551 shares during the period. Berkshire Hathaway Inc raised its stake in shares of Sirius XM by 315.6% during the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after purchasing an additional 30,559,834 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sirius XM by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,957,960 shares of the company’s stock worth $27,120,000 after purchasing an additional 218,211 shares during the period. Point72 Asset Management L.P. purchased a new position in Sirius XM in the 2nd quarter valued at $12,858,000. Finally, Dimensional Fund Advisors LP increased its stake in Sirius XM by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock valued at $12,260,000 after buying an additional 353,860 shares during the period. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Sirius XM Company Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.