Sirius XM’s (SIRI) Buy Rating Reaffirmed at Guggenheim

Guggenheim reissued their buy rating on shares of Sirius XM (NASDAQ:SIRI) in a research note issued to investors on Thursday morning,Benzinga reports. Guggenheim currently has a $29.00 price target on the stock.

Several other equities analysts have also recently commented on SIRI. Rosenblatt Securities dropped their target price on shares of Sirius XM from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Seaport Res Ptn upgraded Sirius XM from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Finally, Barrington Research reissued an “outperform” rating and issued a $28.00 price objective on shares of Sirius XM in a research report on Friday, May 2nd. Six equities research analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.17.

Sirius XM Trading Up 0.3%

NASDAQ SIRI opened at $22.51 on Thursday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.93. The business has a fifty day simple moving average of $21.71 and a 200 day simple moving average of $22.56. Sirius XM has a 12 month low of $18.69 and a 12 month high of $41.60. The firm has a market capitalization of $7.61 billion, a P/E ratio of -3.45, a PEG ratio of 0.32 and a beta of 0.91.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, May 1st. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.11). Sirius XM had a positive return on equity of 6.77% and a negative net margin of 25.00%. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the company earned $0.07 EPS. The business’s revenue was down 4.3% compared to the same quarter last year. On average, analysts predict that Sirius XM will post 3.2 EPS for the current fiscal year.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 9th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.80%. The ex-dividend date was Friday, May 9th. Sirius XM’s dividend payout ratio (DPR) is currently -16.56%.

Insider Activity at Sirius XM

In other Sirius XM news, Director Kristina Salen sold 1,651 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $22.27, for a total transaction of $36,767.77. Following the sale, the director now owns 15,471 shares in the company, valued at $344,539.17. This represents a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sirius XM

Hedge funds have recently bought and sold shares of the company. Applied Finance Capital Management LLC boosted its holdings in Sirius XM by 5.1% in the 1st quarter. Applied Finance Capital Management LLC now owns 9,779 shares of the company’s stock valued at $220,000 after purchasing an additional 475 shares during the period. Geneos Wealth Management Inc. boosted its stake in Sirius XM by 36.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after buying an additional 493 shares during the period. Xponance Inc. grew its position in Sirius XM by 4.5% during the fourth quarter. Xponance Inc. now owns 12,341 shares of the company’s stock worth $281,000 after buying an additional 527 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Sirius XM by 4.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,856 shares of the company’s stock worth $339,000 after buying an additional 630 shares in the last quarter. Finally, Wealthspire Advisors LLC increased its stake in Sirius XM by 4.3% in the 4th quarter. Wealthspire Advisors LLC now owns 15,686 shares of the company’s stock worth $358,000 after acquiring an additional 643 shares during the last quarter. Hedge funds and other institutional investors 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.