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

StockNews.com assumed coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note issued to investors on Friday morning. The firm issued a hold rating on the stock.

A number of other equities research analysts have also recently issued reports on SIRI. Barrington Research restated an outperform rating and issued a $47.50 price objective on shares of Sirius XM in a research note on Monday, July 15th. Morgan Stanley restated an underweight rating and set a $23.00 price target on shares of Sirius XM in a research report on Tuesday, September 24th. Guggenheim raised Sirius XM from a neutral rating to a buy rating and set a $30.00 price target on the stock in a report on Wednesday, September 18th. Rosenblatt Securities lifted their price objective on shares of Sirius XM from $3.40 to $28.00 and gave the stock a neutral rating in a report on Monday, September 16th. Finally, Citigroup upped their price objective on Sirius XM from $2.80 to $21.00 and gave the stock a sell rating in a report on Thursday, September 26th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sirius XM presently has an average rating of Hold and an average target price of $34.27.

Sirius XM Price Performance

SIRI opened at $23.12 on Friday. Sirius XM has a fifty-two week low of $22.18 and a fifty-two week high of $57.80. The company’s 50-day moving average is $28.63 and its 200 day moving average is $30.68. The firm has a market capitalization of $88.93 billion, a P/E ratio of 69.91, a PEG ratio of 0.83 and a beta of 1.07.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. On average, equities research analysts expect that Sirius XM will post 3.08 earnings per share for the current year.

Sirius XM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.266 per share. 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 4.60%. The ex-dividend date was Friday, August 9th. Sirius XM’s dividend payout ratio is currently 321.21%.

Insider Transactions at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the business’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 trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIRI. Mather Group LLC. bought a new stake in Sirius XM in the second quarter worth $28,000. First PREMIER Bank purchased a new stake in Sirius XM during the first quarter valued at $31,000. Walker Asset Management LLC purchased a new stake in shares of Sirius XM during the 2nd quarter valued at about $33,000. Plato Investment Management Ltd bought a new position in Sirius XM in the second quarter worth approximately $35,000. Finally, Riverview Capital Advisers LLC purchased a new stake in shares of Sirius XM in the 2nd quarter worth $35,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

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.