Guggenheim Cuts Sirius XM (NASDAQ:SIRI) Price Target to $29.00

Sirius XM (NASDAQ:SIRI) had its target price cut by Guggenheim from $30.00 to $29.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently weighed in on SIRI. Rosenblatt Securities lifted their price target on Sirius XM from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Benchmark reissued a “buy” rating and issued a $43.00 target price on shares of Sirius XM in a research report on Tuesday, October 15th. Seaport Res Ptn downgraded shares of Sirius XM from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group lowered their price objective on shares of Sirius XM from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Finally, Barrington Research reduced their target price on Sirius XM from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, December 13th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Sirius XM currently has an average rating of “Hold” and a consensus target price of $27.35.

Sirius XM Stock Performance

Shares of SIRI opened at $24.01 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. The firm’s 50 day moving average is $23.66 and its 200-day moving average is $26.94. Sirius XM has a 12-month low of $20.47 and a 12-month high of $53.50. The stock has a market capitalization of $8.14 billion, a P/E ratio of -3.79, a P/E/G ratio of 1.11 and a beta of 1.05.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. Sirius XM had a positive return on equity of 68.38% and a negative net margin of 23.02%. Equities research analysts anticipate that Sirius XM will post -6 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Friday, February 7th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend is Friday, February 7th. Sirius XM’s payout ratio is presently -17.03%.

Hedge Funds Weigh In On Sirius XM

Institutional investors have recently bought and sold shares of the stock. Bfsg LLC increased its holdings in shares of Sirius XM by 55.9% during the 4th quarter. Bfsg LLC now owns 7,383 shares of the company’s stock valued at $168,000 after acquiring an additional 2,648 shares during the last quarter. Truist Financial Corp acquired a new position in Sirius XM during the fourth quarter valued at approximately $253,000. State of New Jersey Common Pension Fund D raised its position in shares of Sirius XM by 15.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 83,439 shares of the company’s stock valued at $1,902,000 after purchasing an additional 11,243 shares during the period. Check Capital Management Inc. CA lifted its stake in shares of Sirius XM by 597.7% in the fourth quarter. Check Capital Management Inc. CA now owns 1,145,731 shares of the company’s stock worth $26,123,000 after buying an additional 981,517 shares during the last quarter. Finally, Quadrant Private Wealth Management LLC boosted its holdings in shares of Sirius XM by 8.7% during the 4th quarter. Quadrant Private Wealth Management LLC now owns 15,406 shares of the company’s stock worth $351,000 after buying an additional 1,228 shares during the period. 10.69% of the stock is currently owned by institutional investors.

About Sirius XM

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.