Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Free Report) has been assigned an average recommendation of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $28.00.
Several research firms have recently commented on SIRI. Evercore set a $28.00 target price on Sirius XM in a research note on Friday, May 1st. Guggenheim reaffirmed a “buy” rating on shares of Sirius XM in a research note on Wednesday, June 17th. Rosenblatt Securities decreased their price target on Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Sirius XM from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, May 1st.
Get Our Latest Analysis on Sirius XM
Sirius XM Price Performance
Sirius XM (NASDAQ:SIRI – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the company posted $0.59 EPS. Sirius XM’s revenue was up 1.1% on a year-over-year basis. Sell-side analysts anticipate that Sirius XM will post 3.1 earnings per share for the current fiscal year.
Sirius XM Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be given a dividend of $0.27 per share. The ex-dividend date is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 3.6%. Sirius XM’s payout ratio is currently 45.57%.
Insider Buying and Selling at Sirius XM
In related news, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the sale, the insider directly owned 20,163 shares of the company’s stock, valued at $601,462.29. The trade was a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.27% of the stock is currently owned by company insiders.
Institutional Trading of Sirius XM
Institutional investors have recently bought and sold shares of the business. Valeo Financial Advisors LLC raised its position in shares of Sirius XM by 3.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 10,916 shares of the company’s stock valued at $322,000 after acquiring an additional 340 shares during the last quarter. Altshuler Shaham Ltd grew its stake in shares of Sirius XM by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after purchasing an additional 417 shares during the period. Geneos Wealth Management Inc. increased its holdings in Sirius XM by 36.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after purchasing an additional 493 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Sirius XM by 5.4% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,862 shares of the company’s stock valued at $291,000 after buying an additional 509 shares during the period. Finally, Versant Capital Management Inc lifted its stake in Sirius XM by 28.0% in the second quarter. Versant Capital Management Inc now owns 2,562 shares of the company’s stock valued at $76,000 after buying an additional 560 shares during the period. Institutional investors and hedge funds own 10.69% of the company’s stock.
Sirius XM News Roundup
Here are the key news stories impacting Sirius XM this week:
- Positive Sentiment: Sirius XM announced a new 24/7 WWE radio channel, replacing its current pro wrestling programming and expanding its sports/entertainment lineup ahead of SummerSlam. WWE partnering with SiriusXM to launch ‘WWE Radio’
- Positive Sentiment: The WWE partnership could help Sirius XM attract and retain subscribers by adding a popular, year-round fan channel and strengthening its exclusive content strategy. SiriusXM to launch 24/7 WWE Radio station
- Positive Sentiment: Analysts are noting that Sirius XM enters its upcoming earnings report with the potential for an earnings beat, which can support sentiment if management confirms improving fundamentals. Sirius XM (SIRI) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
- Positive Sentiment: Management also announced a quarterly dividend of $0.27 per share, reinforcing Sirius XM’s appeal to income-focused investors.
- Neutral Sentiment: Additional coverage highlighted Sirius XM’s move to pick up two Pittsburgh radio stations, but the immediate stock impact is less clear than the WWE announcement. SiriusXM picking up 2 Pittsburgh radio stations
- Neutral Sentiment: Morgan Stanley also reportedly sees strong price appreciation potential for SIRI, adding to the bullish analyst backdrop. Morgan Stanley Forecasts Strong Price Appreciation for Sirius XM (NASDAQ:SIRI) Stock
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.
Further Reading
- Five stocks we like better than Sirius XM
- RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade?
- These 4 Earnings Reports Expose the Market’s Growing Economic Divide
- Broadcom May Be the Biggest Winner From Alphabet’s Earnings
- Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit
Receive News & Ratings for Sirius XM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sirius XM and related companies with MarketBeat.com's FREE daily email newsletter.
