Sirius XM (NASDAQ:SIRI) Price Target Raised to $28.00 at Morgan Stanley

Sirius XM (NASDAQ:SIRI) had its price objective lifted by Morgan Stanley from $24.00 to $28.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other analysts have also recently issued reports on the company. Rosenblatt Securities cut their price objective on Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Citigroup reiterated a “sell” rating and issued a $22.00 target price (up from $19.00) on shares of Sirius XM in a research report on Monday, May 4th. Guggenheim reiterated a “buy” rating on shares of Sirius XM in a report on Wednesday, June 17th. JPMorgan Chase & Co. upped their price target on Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Finally, Evercore set a $28.00 price objective on Sirius XM in a research note on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $28.00.

Sirius XM Price Performance

SIRI opened at $30.29 on Tuesday. The company has a 50-day moving average of $28.76 and a 200-day moving average of $24.82. The company has a market capitalization of $10.20 billion, a P/E ratio of 12.78, a PEG ratio of 0.66 and a beta of 0.95. Sirius XM has a 1-year low of $19.76 and a 1-year high of $31.42. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.44 and a current ratio of 0.44.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 earnings per share. Equities analysts expect that Sirius XM will post 3.1 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 11th were given a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a yield of 3.6%. Sirius XM’s payout ratio is currently 45.57%.

Insider Buying and Selling

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the transaction, the insider directly owned 20,163 shares in the company, valued at $601,462.29. This represents a 50.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently modified their holdings of SIRI. Brighton Jones LLC acquired a new stake in shares of Sirius XM in the 4th quarter worth about $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Sirius XM by 11.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company’s stock worth $20,861,000 after purchasing an additional 92,111 shares during the period. Focus Partners Wealth grew its position in Sirius XM by 5.2% in the 1st quarter. Focus Partners Wealth now owns 16,273 shares of the company’s stock valued at $367,000 after buying an additional 800 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Sirius XM by 36.7% in the 1st 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 in the last quarter. Finally, Sivia Capital Partners LLC acquired a new position in Sirius XM during the 2nd quarter valued at about $208,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

More Sirius XM News

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: SiriusXM announced a broader partnership with Audacy that brings multiple local sports, news, and spoken-word radio stations onto the SiriusXM lineup, potentially strengthening its live content offering and subscriber appeal. Article Title
• Positive Sentiment: The company also signed Trixie Mattel and Katya Zamolodchikova’s popular podcast The Bald and the Beautiful, adding another exclusive audio property to its content lineup. Article Title
• Positive Sentiment: SiriusXM is launching “Little Miss Twain Radio” with a special one-night-only performance by Shania Twain, underscoring ongoing efforts to use exclusive artist-driven programming to attract listeners. Article Title
• Neutral Sentiment: Several articles highlighted the Audacy deal’s expansion into specific local stations, including WFAN and Pittsburgh outlets, which reinforces SiriusXM’s content breadth but is still mainly a strategic programming update rather than a direct financial catalyst. Article Title
• Neutral Sentiment: Market commentary from Zacks and Yahoo noted Sirius XM is positioned to beat earnings estimates again, which is supportive sentiment but not a confirmed near-term catalyst. Article Title
• Negative Sentiment: Morgan Stanley raised its price target on Sirius XM but maintained an underweight rating, signaling the firm still sees downside risk despite the higher target. Article Title

About Sirius XM

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.