Sirius XM (NASDAQ:SIRI) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Sirius XM (NASDAQ:SIRI) in a report published on Thursday morning. The firm issued a hold rating on the stock.

Other analysts have also recently issued reports about the company. Evercore ISI upgraded Sirius XM from an underperform rating to an in-line rating and dropped their price target for the stock from $42.50 to $32.50 in a research report on Monday, June 24th. Morgan Stanley reissued an underweight rating and set a $23.00 target price on shares of Sirius XM in a research note on Tuesday, September 24th. The Goldman Sachs Group reduced their price target on Sirius XM from $32.50 to $26.00 and set a neutral rating on the stock in a research report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft dropped their price objective on Sirius XM from $37.50 to $30.00 and set a hold rating on the stock in a report on Tuesday, August 6th. Finally, Rosenblatt Securities raised their price target on Sirius XM from $3.40 to $28.00 and gave the stock a neutral rating in a research note on Monday, September 16th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $34.27.

Sirius XM Stock Performance

Shares of SIRI stock opened at $24.38 on Thursday. Sirius XM has a fifty-two week low of $22.73 and a fifty-two week high of $57.80. The firm has a market capitalization of $93.78 billion, a price-to-earnings ratio of 73.88, a PEG ratio of 0.83 and a beta of 1.08. The stock’s 50-day simple moving average is $30.10 and its 200-day simple moving average is $31.41.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. As a group, equities analysts forecast that Sirius XM will post 3.08 earnings per share for the current year.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.266 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.36%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. Sirius XM’s dividend payout ratio is presently 321.21%.

Insider Transactions at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the transaction, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sirius XM

A number of institutional investors have recently added to or reduced their stakes in SIRI. Mather Group LLC. bought a new position in Sirius XM in the 2nd quarter worth approximately $28,000. First PREMIER Bank acquired a new position in Sirius XM in the 1st quarter worth $31,000. Walker Asset Management LLC acquired a new position in Sirius XM in the 2nd quarter worth $33,000. Plato Investment Management Ltd acquired a new position in shares of Sirius XM during the 2nd quarter worth about $35,000. Finally, Riverview Capital Advisers LLC bought a new stake in shares of Sirius XM in the 2nd quarter valued at about $35,000. 10.69% of the stock is owned by institutional investors and hedge funds.

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.