BidaskClub upgraded shares of Sirius XM (NASDAQ:SIRI) from a sell rating to a hold rating in a research report report published on Friday morning.
Other equities research analysts have also issued reports about the company. Zacks Investment Research lowered Sirius XM from a buy rating to a hold rating in a research note on Monday, July 30th. Macquarie restated a buy rating and set a $7.75 price target on shares of Sirius XM in a research note on Thursday, September 20th. Credit Suisse Group restated a neutral rating and set a $7.50 price target (down from $8.50) on shares of Sirius XM in a research note on Tuesday, September 25th. Pivotal Research restated a hold rating and set a $7.00 price target on shares of Sirius XM in a research note on Wednesday, October 24th. Finally, ValuEngine lowered Sirius XM from a buy rating to a hold rating in a research note on Monday, September 24th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $6.83.
Sirius XM stock opened at $6.11 on Friday. The firm has a market capitalization of $27.45 billion, a P/E ratio of 30.55, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. Sirius XM has a 52 week low of $5.17 and a 52 week high of $7.70.
Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Wednesday, October 24th. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. Sirius XM had a negative return on equity of 78.49% and a net margin of 15.64%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 earnings per share. Equities analysts predict that Sirius XM will post 0.26 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 9th will be given a $0.0121 dividend. This is an increase from Sirius XM’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.05 annualized dividend and a dividend yield of 0.79%. Sirius XM’s dividend payout ratio is presently 20.00%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning boosted its position in shares of Sirius XM by 0.5% in the second quarter. Creative Planning now owns 1,577,014 shares of the company’s stock worth $10,676,000 after buying an additional 7,469 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Sirius XM by 5.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 169,677 shares of the company’s stock worth $1,073,000 after buying an additional 8,458 shares during the period. Buckingham Asset Management LLC boosted its position in shares of Sirius XM by 16.6% in the third quarter. Buckingham Asset Management LLC now owns 67,088 shares of the company’s stock worth $424,000 after buying an additional 9,529 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Sirius XM by 82.2% in the third quarter. Steward Partners Investment Advisory LLC now owns 22,628 shares of the company’s stock worth $143,000 after buying an additional 10,207 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Sirius XM by 2.7% in the third quarter. CIBC Asset Management Inc now owns 406,890 shares of the company’s stock worth $2,572,000 after buying an additional 10,548 shares during the period. 18.61% of the stock is owned by institutional investors.
Sirius XM Company Profile
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to 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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