Sirius XM (NASDAQ:SIRI) Given “Outperform” Rating at Barrington Research

Barrington Research reissued their outperform rating on shares of Sirius XM (NASDAQ:SIRI) in a research note released on Friday,Benzinga reports. Barrington Research currently has a $28.00 price objective on the stock.

A number of other research firms have also commented on SIRI. Rosenblatt Securities dropped their price target 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. Morgan Stanley cut their target price on shares of Sirius XM from $23.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. Seaport Res Ptn upgraded Sirius XM from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Finally, Guggenheim decreased their target price on Sirius XM from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Six analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.65.

Sirius XM Trading Up 5.0 %

Shares of NASDAQ:SIRI opened at $20.47 on Friday. Sirius XM has a 1 year low of $18.69 and a 1 year high of $41.60. The firm has a fifty day moving average price of $22.00 and a 200 day moving average price of $23.82. 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 stock has a market capitalization of $6.93 billion, a PE ratio of -3.19, a P/E/G ratio of 0.79 and a beta of 0.90.

Sirius XM (NASDAQ:SIRI) last released its quarterly 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 13.44% and a negative net margin of 24.03%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the company posted $0.07 EPS. The business’s revenue was down 4.3% compared to the same quarter last year. Analysts expect that Sirius XM will post 3.2 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 9th will be issued a $0.27 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.28%. Sirius XM’s payout ratio is presently -16.56%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its position in Sirius XM by 21.2% in the fourth quarter. State of Alaska Department of Revenue now owns 234,242 shares of the company’s stock valued at $5,340,000 after buying an additional 41,000 shares in the last quarter. Check Capital Management Inc. CA grew its position in Sirius XM by 597.7% during the 4th quarter. Check Capital Management Inc. CA now owns 1,145,731 shares of the company’s stock worth $26,123,000 after acquiring an additional 981,517 shares during the last quarter. Franklin Resources Inc. increased its holdings in Sirius XM by 209.1% during the 3rd quarter. Franklin Resources Inc. now owns 87,201 shares of the company’s stock valued at $2,062,000 after purchasing an additional 58,993 shares in the last quarter. Legato Capital Management LLC raised its position in Sirius XM by 21.9% in the 4th quarter. Legato Capital Management LLC now owns 85,500 shares of the company’s stock valued at $1,949,000 after purchasing an additional 15,342 shares during the last quarter. Finally, MBA Advisors LLC acquired a new position in Sirius XM in the fourth quarter worth $228,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

About Sirius XM

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.