Sirius XM Holdings Inc. (NASDAQ:SIRI) Receives $28.00 Consensus Target Price from Analysts

Sirius XM Holdings Inc. (NASDAQ:SIRI) has received an average rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $29.6364.

A number of equities analysts have recently issued reports on SIRI shares. Wells Fargo & Company set a $30.00 price target on Sirius XM and gave the stock an “equal weight” rating in a research report on Monday. Evercore set a $28.00 price objective on Sirius XM in a research report on Friday, May 1st. Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Benchmark reaffirmed a “buy” rating on shares of Sirius XM in a research report on Wednesday. Finally, Barrington Research upped their target price on Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, May 4th.

Sirius XM Stock Up 2.9%

Shares of Sirius XM stock opened at $32.59 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.83. The company has a market cap of $10.97 billion, a P/E ratio of 13.75, a PEG ratio of 0.68 and a beta of 0.95. The firm’s 50 day moving average price is $29.30 and its 200-day moving average price is $25.23. Sirius XM has a 52-week low of $19.76 and a 52-week high of $32.66.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. Sirius XM’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, sell-side analysts predict that Sirius XM will post 3.1 EPS for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.27 per share. The ex-dividend date is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.3%. Sirius XM’s payout ratio is presently 45.57%.

Insider Activity

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the transaction, the insider directly owned 20,163 shares of the company’s stock, valued at $601,462.29. This trade represents a 50.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.27% of the stock is currently owned by company insiders.

Institutional Trading of Sirius XM

Large investors have recently bought and sold shares of the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Sirius XM by 5.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,862 shares of the company’s stock valued at $291,000 after purchasing an additional 509 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of Sirius XM by 3.2% during the second quarter. Valeo Financial Advisors LLC now owns 10,916 shares of the company’s stock worth $322,000 after buying an additional 340 shares during the period. Sprinkle Financial Consultants LLC purchased a new stake in shares of Sirius XM during the second quarter valued at $961,000. GAMMA Investing LLC grew its holdings in shares of Sirius XM by 44.1% during the second quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock valued at $83,000 after buying an additional 864 shares during the last quarter. Finally, CoreCap Advisors LLC increased its position in shares of Sirius XM by 421.7% in the 2nd quarter. CoreCap Advisors LLC now owns 3,130 shares of the company’s stock valued at $92,000 after acquiring an additional 2,530 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 is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.