Analysts Set Sirius XM Holdings Inc. (NASDAQ:SIRI) Price Target at $32.00

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) have been given an average recommendation of “Hold” by the nineteen analysts that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $32.1538.

A number of research analysts recently commented on SIRI shares. Bank of America reissued an “underperform” rating on shares of Sirius XM in a report on Friday, July 31st. Guggenheim reaffirmed a “buy” rating and set a $37.00 price objective (up from $35.00) on shares of Sirius XM in a research note on Thursday. Rosenblatt Securities restated a “buy” rating and set a $45.00 price objective on shares of Sirius XM in a report on Tuesday, July 28th. JPMorgan Chase & Co. boosted their target price on shares of Sirius XM from $26.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $32.00 price target on shares of Sirius XM in a research note on Friday, August 7th.

Insider Activity

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the completion of the transaction, the director owned 18,354 shares of the company’s stock, valued at approximately $550,069.38. This trade represents a 47.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.27% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Several hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new position in Sirius XM during the second quarter worth about $32,000. Sunbelt Securities Inc. raised its holdings in Sirius XM by 158.5% during the first quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock worth $30,000 after purchasing an additional 794 shares in the last quarter. Root Financial Partners LLC lifted its position in Sirius XM by 612.8% in the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock valued at $32,000 after acquiring an additional 1,195 shares during the last quarter. Western Wealth Management LLC purchased a new stake in shares of Sirius XM in the first quarter valued at about $33,000. Finally, Altshuler Shaham Ltd grew its stake in shares of Sirius XM by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock valued at $36,000 after purchasing an additional 417 shares during the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Sirius XM Price Performance

Shares of SIRI opened at $27.44 on Tuesday. The firm has a fifty day simple moving average of $29.36 and a two-hundred day simple moving average of $27.35. The firm has a market cap of $9.25 billion, a PE ratio of 10.98, a P/E/G ratio of 0.49 and a beta of 0.95. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79. Sirius XM has a 1-year low of $19.76 and a 1-year high of $32.66.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.08). The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The firm’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 earnings per share. On average, equities analysts anticipate that Sirius XM will post 3 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.9%. Sirius XM’s dividend payout ratio is presently 43.20%.

Sirius XM Company Profile

Sirius XM Holdings Inc provides subscription-based audio entertainment and information services in the United States and Canada. Its SiriusXM service delivers commercial-free music, sports, news, talk and entertainment programming through satellite radio and internet streaming, including its mobile app and connected-vehicle platforms.

The company offers a broad range of exclusive and licensed content, including live sports coverage, original talk and comedy programs, news services, podcasts, and music channels organized by genre and artist.