Sirius XM (NASDAQ:SIRI) Receives New Coverage from Analysts at StockNews.com

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

Several other research analysts also recently issued reports on SIRI. Barrington Research restated an outperform rating and set a $47.50 price objective on shares of Sirius XM in a report on Monday, July 15th. Evercore ISI upgraded shares of Sirius XM from an underperform rating to an in-line rating and dropped their price objective for the stock from $42.50 to $32.50 in a report on Monday, June 24th. Guggenheim decreased their target price on shares of Sirius XM from $33.00 to $29.00 and set a neutral rating on the stock in a research report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Sirius XM from $37.50 to $30.00 and set a hold rating on the stock in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group decreased their target price on shares of Sirius XM from $32.50 to $26.00 and set a neutral rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Sirius XM has an average rating of Hold and a consensus price target of $36.91.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $23.27 on Wednesday. Sirius XM has a 1 year low of $22.73 and a 1 year high of $57.80. The firm’s fifty day simple moving average is $31.82 and its 200 day simple moving average is $32.18. The firm has a market capitalization of $89.51 billion, a PE ratio of 70.52, a PEG ratio of 0.90 and a beta of 1.08.

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

Sirius XM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a $0.266 dividend. The ex-dividend date 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 yield of 4.57%. Sirius XM’s payout ratio is 321.21%.

Insiders Place Their Bets

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.60, for a total value of $4,573,246.80. Following the completion of the transaction, the insider now directly owns 98,933 shares of the company’s stock, valued at $3,126,282.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

A number of institutional investors have recently modified their holdings of SIRI. Mather Group LLC. bought a new position in shares of Sirius XM in the second quarter worth about $28,000. First PREMIER Bank bought a new stake in shares of Sirius XM during the first quarter worth approximately $31,000. Walker Asset Management LLC bought a new stake in shares of Sirius XM during the second quarter worth approximately $33,000. Plato Investment Management Ltd bought a new stake in shares of Sirius XM during the second quarter worth approximately $35,000. Finally, Riverview Capital Advisers LLC bought a new stake in shares of Sirius XM during the second quarter worth approximately $35,000. 10.69% of the stock is owned by 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.