Sirius XM Holdings Inc. (NASDAQ:SIRI) Receives $32.00 Average PT from Brokerages

Sirius XM Holdings Inc. (NASDAQ:SIRI) has been given an average rating of “Hold” by the nineteen research firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $32.1538.

A number of analysts have recently weighed in on SIRI shares. Deutsche Bank Aktiengesellschaft upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and increased their price objective for the stock from $31.00 to $45.00 in a research note on Wednesday, September 2nd. Morgan Stanley boosted their target price on shares of Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. William Blair raised shares of Sirius XM to a “market perform” rating in a report on Wednesday, September 2nd. JPMorgan Chase & Co. upped their price target on shares of Sirius XM from $26.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Finally, Weiss Ratings raised Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total value of $499,659.84. Following the sale, the director directly owned 18,354 shares of the company’s stock, valued at approximately $550,069.38. This trade represents a 47.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Sirius XM

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of Sirius XM by 82.9% in the second quarter. BlackRock Inc. now owns 17,602,229 shares of the company’s stock valued at $519,970,000 after acquiring an additional 7,977,045 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Sirius XM by 262.1% during the first quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company’s stock worth $145,426,000 after purchasing an additional 4,560,821 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Sirius XM by 38.3% in the second quarter. Bank of New York Mellon Corp now owns 3,012,240 shares of the company’s stock valued at $88,982,000 after purchasing an additional 834,479 shares during the period. Check Capital Management Inc. CA lifted its position in Sirius XM by 2.0% in the first quarter. Check Capital Management Inc. CA now owns 2,942,595 shares of the company’s stock valued at $67,915,000 after purchasing an additional 59,095 shares during the period. Finally, Norges Bank acquired a new stake in Sirius XM in the fourth quarter valued at about $57,124,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Sirius XM Trading Down 2.9%

SIRI opened at $27.74 on Tuesday. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.51 and a beta of 0.95. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79. Sirius XM has a 12 month low of $19.76 and a 12 month high of $32.66. The stock has a fifty day moving average price of $29.48 and a 200-day moving average price of $27.28.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, July 30th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.08). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. Sirius XM’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.57 earnings per share. As a group, equities research analysts anticipate that Sirius XM will post 3 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 10th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.9%. The ex-dividend date was Monday, August 10th. Sirius XM’s dividend payout ratio (DPR) is currently 43.20%.

About Sirius XM

Sirius XM Holdings Inc provides subscription-based audio entertainment and information services in the United States and Canada. Its SiriusXM service delivers commercial-free music, sports, news, talk and entertainment programming through satellite radio and internet streaming, including its mobile app and connected-vehicle platforms.

The company offers a broad range of exclusive and licensed content, including live sports coverage, original talk and comedy programs, news services, podcasts, and music channels organized by genre and artist.