Sirius XM (NASDAQ:SIRI) Given New $26.00 Price Target at The Goldman Sachs Group

Sirius XM (NASDAQ:SIRI) had its target price reduced by The Goldman Sachs Group from $32.50 to $26.00 in a report issued on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued research reports about the stock. Barrington Research restated an outperform rating and issued a $47.50 price target on shares of Sirius XM in a research report on Monday, July 15th. StockNews.com assumed coverage on shares of Sirius XM in a research report on Monday, August 19th. They set a hold rating on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Guggenheim lowered their price objective 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. Finally, Citigroup cut shares of Sirius XM from a neutral rating to a sell rating and set a $28.00 price objective on the stock. in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Sirius XM currently has an average rating of Hold and a consensus price target of $36.82.

Sirius XM Stock Performance

Sirius XM stock opened at $23.27 on Tuesday. The firm has a market cap of $89.51 billion, a price-to-earnings ratio of 70.52, a price-to-earnings-growth ratio of 0.90 and a beta of 1.08. Sirius XM has a 1 year low of $22.73 and a 1 year high of $57.80. The firm’s 50 day moving average price is $32.06 and its two-hundred day moving average price is $32.25.

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

Sirius XM Increases Dividend

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

Insider Buying and Selling at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the sale, the insider now owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Institutional investors and hedge funds have recently modified their holdings of the business. TFO Wealth Partners LLC lifted its stake in shares of Sirius XM by 140,560.0% in the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock valued at $38,000 after purchasing an additional 7,028 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Sirius XM by 66.6% in the 4th quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock valued at $44,000 after purchasing an additional 3,194 shares during the last quarter. First PREMIER Bank acquired a new stake in shares of Sirius XM in the 1st quarter valued at $31,000. ICA Group Wealth Management LLC acquired a new stake in shares of Sirius XM in the 4th quarter valued at $48,000. Finally, Avenir Corp acquired a new position in Sirius XM during the 4th quarter worth $55,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

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.