Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Free Report) has been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $28.00.
Several brokerages have recently issued reports on SIRI. Morgan Stanley boosted their price target on shares of Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a report on Tuesday, July 21st. Guggenheim reaffirmed a “buy” rating on shares of Sirius XM in a research note on Wednesday, June 17th. Citigroup reiterated a “sell” rating and set a $22.00 target price (up from $19.00) on shares of Sirius XM in a report on Monday, May 4th. Evercore set a $28.00 target price on Sirius XM in a research note on Friday, May 1st. Finally, Rosenblatt Securities decreased their target price on Sirius XM from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th.
View Our Latest Stock Analysis on SIRI
Sirius XM Price Performance
Sirius XM (NASDAQ:SIRI – Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, sell-side analysts anticipate that Sirius XM will post 3.1 EPS for the current year.
Sirius XM Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, August 10th. Sirius XM’s payout ratio is 45.57%.
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
Insider Activity
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 stock was sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the transaction, the insider directly owned 20,163 shares in the company, valued at approximately $601,462.29. The trade was a 50.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.27% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of SIRI. Dimensional Fund Advisors LP boosted its holdings in shares of Sirius XM by 262.1% in the first quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company’s stock valued at $145,426,000 after buying an additional 4,560,821 shares during the period. AQR Capital Management LLC increased its position in shares of Sirius XM by 165.2% during the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock worth $117,327,000 after acquiring an additional 3,233,922 shares in the last quarter. State Street Corp raised its holdings in shares of Sirius XM by 0.7% during the fourth quarter. State Street Corp now owns 3,487,415 shares of the company’s stock worth $69,731,000 after acquiring an additional 25,906 shares during the period. Check Capital Management Inc. CA raised its holdings in shares of Sirius XM by 2.0% during the first quarter. Check Capital Management Inc. CA now owns 2,942,595 shares of the company’s stock worth $67,915,000 after acquiring an additional 59,095 shares during the period. Finally, Norges Bank bought a new stake in Sirius XM in the 4th quarter valued at $57,124,000. Institutional investors own 10.69% of the company’s 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.
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