Sirius XM Holdings Inc. (NASDAQ:SIRI) Stock Has Average Target Price of $32.92 According to Brokerages

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) have been assigned a consensus recommendation of “Hold” from the nineteen research firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $32.92.

Several equities research analysts recently issued reports on the company. Morgan Stanley boosted their price target on Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. William Blair upgraded shares of Sirius XM to a “market perform” rating in a research report on Wednesday, September 2nd. TD Cowen lowered Sirius XM to a “hold” rating in a research note on Wednesday, September 2nd. The Goldman Sachs Group raised Sirius XM from a “neutral” rating to a “buy” rating and increased their price objective for the company from $33.00 to $37.00 in a report on Tuesday. Finally, JPMorgan Chase & Co. cut their price target on shares of Sirius XM from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday.

Sirius XM Stock Down 2.5%

Shares of SIRI opened at $32.40 on Wednesday. The company has a market capitalization of $10.90 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 0.48 and a beta of 0.98. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.66. Sirius XM has a 52-week low of $19.76 and a 52-week high of $33.76. The stock has a fifty day simple moving average of $27.86 and a two-hundred day simple moving average of $26.44.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. Sirius XM had a net margin of 10.47% and a return on equity of 9.42%. The business’s revenue was down .4% on a year-over-year basis. During the same period last year, the business earned $0.84 EPS. As a group, equities analysts forecast that Sirius XM will post 3.00 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Friday, November 6th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.08 annualized dividend and a dividend yield of 3.3%. Sirius XM’s dividend payout ratio is currently 44.26%.

Institutional Trading of Sirius XM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC bought a new position in Sirius XM in the 2nd quarter valued at $32,000. Sunbelt Securities Inc. grew its stake in shares of Sirius XM by 158.5% in the 1st quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock valued at $30,000 after buying an additional 794 shares in the last quarter. Root Financial Partners LLC raised its holdings in Sirius XM by 612.8% in the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after purchasing an additional 1,195 shares during the period. Western Wealth Management LLC acquired a new position in Sirius XM in the 1st quarter valued at approximately $33,000. Finally, Altshuler Shaham Ltd grew its position in Sirius XM by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after buying an additional 417 shares in the last quarter. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Company Profile

Sirius XM Holdings Inc is a media and entertainment company that provides subscription-based audio programming through its SiriusXM service. The company delivers a broad range of commercial-free music, live sports, news, talk and entertainment programming, including exclusive channels, original shows and coverage of major events.

SiriusXM content is distributed primarily through satellite radio and internet streaming. Subscribers can access the service in vehicles, through the SiriusXM mobile app and website, and on supported connected devices.