Morgan Stanley started coverage on shares of Sirius XM (NASDAQ:SIRI) in a report issued on Friday, Marketbeat reports. The firm issued an equal weight rating and a $6.50 price target on the stock.

A number of other research analysts have also issued reports on the stock. Macquarie set a $8.00 target price on shares of Sirius XM and gave the company a buy rating in a research note on Wednesday, January 2nd. Buckingham Research upgraded shares of Sirius XM from a neutral rating to a buy rating in a research note on Monday, January 28th. BidaskClub upgraded shares of Sirius XM from a hold rating to a buy rating in a research note on Tuesday, December 11th. JPMorgan Chase & Co. upgraded shares of Sirius XM from an underweight rating to an overweight rating and raised their target price for the company from $6.00 to $7.00 in a research note on Wednesday, January 2nd. Finally, Zacks Investment Research upgraded shares of Sirius XM from a sell rating to a hold rating in a research note on Wednesday, March 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $7.22.

Shares of SIRI opened at $6.17 on Friday. Sirius XM has a 12 month low of $5.48 and a 12 month high of $7.70. The firm has a market cap of $27.54 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 2.49 and a beta of 1.05.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Wednesday, January 30th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. Sirius XM had a net margin of 20.38% and a negative return on equity of 76.76%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the business posted ($0.01) EPS. Sirius XM’s revenue was up 6.6% compared to the same quarter last year. Research analysts forecast that Sirius XM will post 0.22 earnings per share for the current year.

Sirius XM announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 29th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Monday, February 11th were issued a $0.0121 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Friday, February 8th. Sirius XM’s dividend payout ratio (DPR) is presently 19.23%.

In other Sirius XM news, VP Thomas D. Barry sold 48,513 shares of the stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $6.06, for a total value of $293,988.78. Following the completion of the sale, the vice president now directly owns 462,465 shares of the company’s stock, valued at approximately $2,802,537.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP James Arthur Cady sold 588,503 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $6.13, for a total transaction of $3,607,523.39. Following the completion of the sale, the executive vice president now directly owns 1,840,070 shares of the company’s stock, valued at $11,279,629.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 693,134 shares of company stock valued at $4,245,516. Insiders own 0.76% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in Sirius XM by 6.9% in the 4th quarter. BlackRock Inc. now owns 81,345,924 shares of the company’s stock valued at $464,485,000 after purchasing an additional 5,256,918 shares during the period. Eagle Asset Management Inc. lifted its holdings in shares of Sirius XM by 6.9% during the 4th quarter. Eagle Asset Management Inc. now owns 18,093,417 shares of the company’s stock worth $103,313,000 after acquiring an additional 1,170,648 shares during the period. APG Asset Management N.V. lifted its holdings in shares of Sirius XM by 7.1% during the 4th quarter. APG Asset Management N.V. now owns 16,576,862 shares of the company’s stock worth $82,801,000 after acquiring an additional 1,104,100 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Sirius XM by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 15,660,182 shares of the company’s stock worth $89,361,000 after acquiring an additional 553,127 shares during the period. Finally, Carillon Tower Advisers Inc. lifted its holdings in shares of Sirius XM by 9.0% during the 3rd quarter. Carillon Tower Advisers Inc. now owns 12,755,822 shares of the company’s stock worth $80,616,000 after acquiring an additional 1,058,115 shares during the period. 16.91% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Company Profile

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.

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Analyst Recommendations for Sirius XM (NASDAQ:SIRI)

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