Sirius XM (NASDAQ:SIRI) Upgraded by Guggenheim to Buy

Guggenheim upgraded shares of Sirius XM (NASDAQ:SIRI) from a neutral rating to a buy rating in a research note published on Wednesday morning, Marketbeat.com reports. They currently have $30.00 price objective on the stock.

Several other research firms have also recently commented on SIRI. Deutsche Bank Aktiengesellschaft lowered their target price on Sirius XM from $37.50 to $30.00 and set a hold rating on the stock in a research report on Tuesday, August 6th. Rosenblatt Securities lifted their price objective on shares of Sirius XM from $3.40 to $28.00 and gave the company a neutral rating in a research note on Monday. The Goldman Sachs Group decreased their target price on shares of Sirius XM from $32.50 to $26.00 and set a neutral rating for the company in a research report on Tuesday. Citigroup downgraded shares of Sirius XM from a neutral rating to a sell rating and set a $28.00 price target on the stock. in a research report on Thursday, July 25th. Finally, Evercore ISI upgraded shares of Sirius XM from an underperform rating to an in-line rating and decreased their price objective for the company from $42.50 to $32.50 in a report on Monday, June 24th. Two equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $36.91.

Sirius XM Stock Performance

SIRI stock 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 stock has a market capitalization of $89.51 billion, a price-to-earnings ratio of 70.52, a PEG ratio of 0.90 and a beta of 1.08. The stock’s fifty day moving average is $31.82 and its two-hundred day moving average is $32.18.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, meeting 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 firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. As a group, analysts predict that Sirius XM will post 3.14 EPS for the current fiscal year.

Sirius XM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.266 per share. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 annualized dividend and a dividend yield of 4.57%. Sirius XM’s dividend payout ratio (DPR) is currently 321.21%.

Insider Transactions at Sirius XM

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the stock in a transaction on Thursday, August 8th. The stock was 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 owns 98,933 shares in the company, valued at approximately $3,126,282.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Sirius XM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Sirius XM by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after purchasing an additional 363,551 shares in the last quarter. Berkshire Hathaway Inc lifted its stake in Sirius XM by 315.6% in the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after acquiring an additional 30,559,834 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Sirius XM by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,957,960 shares of the company’s stock worth $27,120,000 after acquiring an additional 218,211 shares during the period. Point72 Asset Management L.P. purchased a new position in Sirius XM during the 2nd quarter valued at about $12,858,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Sirius XM by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock valued at $12,260,000 after purchasing an additional 353,860 shares during the period. Institutional investors and hedge funds own 10.69% of the company’s stock.

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.