Sirius XM Holdings Inc. (NASDAQ:SIRI) Stock Has Consensus Price Target of $32.15

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) have received an average rating of “Hold” from the nineteen analysts that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $32.15.

Several research analysts recently weighed in on the stock. BNP Paribas Exane downgraded shares of Sirius XM to a “neutral” rating in a report on Wednesday, September 2nd. Guggenheim reissued a “buy” rating and set a $37.00 price target (up from $35.00) on shares of Sirius XM in a report on Thursday, September 17th. Weiss Ratings raised Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. TD Cowen downgraded Sirius XM to a “hold” rating in a research report on Wednesday, September 2nd. Finally, UBS Group set a $30.00 price objective on Sirius XM in a research note on Wednesday, July 29th.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $26.61 on Friday. The company has a market capitalization of $8.97 billion, a P/E ratio of 10.64, a P/E/G ratio of 0.48 and a beta of 0.98. Sirius XM has a 1-year low of $19.76 and a 1-year high of $32.66. The firm’s 50 day simple moving average is $28.01 and its two-hundred day simple moving average is $27.76. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.46 and a quick ratio of 0.46.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Sirius XM had a return on equity of 9.37% and a net margin of 10.23%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. Research analysts expect that Sirius XM will post 3.00 EPS for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 10th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, August 10th. Sirius XM’s dividend payout ratio (DPR) is 43.20%.

Insider Transactions at Sirius XM

In related news, Director Jonelle Procope sold 16,672 shares of the business’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 transaction, the director directly owned 18,354 shares of the company’s stock, valued at approximately $550,069.38. The trade was a 47.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.27% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

A number of institutional investors have recently added to or reduced their stakes in SIRI. Canandaigua National Trust Co of Florida bought a new stake in shares of Sirius XM during the third quarter valued at approximately $336,000. QRG Capital Management Inc. bought a new position in shares of Sirius XM during the second quarter worth $224,000. State Street Corp grew its stake in Sirius XM by 68.9% during the second quarter. State Street Corp now owns 5,992,497 shares of the company’s stock valued at $177,018,000 after acquiring an additional 2,444,881 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Sirius XM by 250.2% during the second quarter. The Manufacturers Life Insurance Company now owns 212,389 shares of the company’s stock valued at $6,274,000 after acquiring an additional 151,747 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Sirius XM by 23.5% during the second quarter. Sequoia Financial Advisors LLC now owns 23,736 shares of the company’s stock valued at $701,000 after acquiring an additional 4,523 shares in the last quarter. 10.69% of the stock is owned by hedge funds and other institutional investors.

About Sirius XM

Sirius XM Holdings Inc (NASDAQ: SIRI) is an audio entertainment company that provides subscription-based satellite radio and streaming services in the United States and Canada. Its SiriusXM service offers commercial-free music, live sports, news, talk programming, comedy, entertainment, and exclusive original content through connected vehicles, the SiriusXM app, and other connected devices.

The company distributes SiriusXM primarily through automakers and vehicle dealers, as well as directly to consumers.