Sirius XM (NASDAQ:SIRI) Rating Increased to In-Line at Evercore ISI

Evercore ISI upgraded shares of Sirius XM (NASDAQ:SIRI) from an underperform rating to an in-line rating in a research note released on Monday, MarketBeat reports. The firm currently has $3.25 target price on the stock, down from their previous target price of $4.25.

A number of other brokerages have also recently weighed in on SIRI. Pivotal Research upgraded shares of Sirius XM from a hold rating to a buy rating and cut their price objective for the company from $5.05 to $4.90 in a research note on Wednesday, April 24th. Benchmark dropped their price target on shares of Sirius XM from $7.00 to $6.50 and set a buy rating on the stock in a research report on Wednesday, March 27th. Rosenblatt Securities dropped their price target on shares of Sirius XM from $4.50 to $3.40 and set a neutral rating on the stock in a research report on Wednesday, May 1st. Wells Fargo & Company dropped their price target on shares of Sirius XM from $3.00 to $2.50 and set an underweight rating on the stock in a research report on Wednesday, May 1st. Finally, StockNews.com assumed coverage on shares of Sirius XM in a research report on Monday. They issued a hold rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $4.11.

Sirius XM Stock Up 1.1 %

NASDAQ SIRI opened at $2.73 on Monday. The stock has a market cap of $10.50 billion, a PE ratio of 8.30, a P/E/G ratio of 0.87 and a beta of 1.08. The business has a 50 day moving average price of $2.88 and a two-hundred day moving average price of $4.05. Sirius XM has a fifty-two week low of $2.45 and a fifty-two week high of $7.95.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the company earned $0.06 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts anticipate that Sirius XM will post 0.31 EPS for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th were paid a dividend of $0.0266 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.11 annualized dividend and a yield of 3.90%. Sirius XM’s dividend payout ratio (DPR) is presently 30.30%.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of Sirius XM stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $2.62, for a total transaction of $32,797.16. Following the transaction, the director now owns 181,827 shares of the company’s stock, valued at approximately $476,386.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Sirius XM by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after acquiring an additional 363,551 shares in the last quarter. Berkshire Hathaway Inc lifted its holdings in shares of Sirius XM by 315.6% during the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after buying an additional 30,559,834 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Sirius XM by 482.9% during the 3rd quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock valued at $66,178,000 after buying an additional 12,129,166 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Sirius XM by 18.7% during the 3rd quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock valued at $50,878,000 after buying an additional 1,776,700 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Sirius XM by 24.1% during the 3rd quarter. Invesco Ltd. now owns 8,671,095 shares of the company’s stock valued at $39,193,000 after buying an additional 1,685,696 shares during the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

About Sirius XM

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.