Sirius XM Holdings Inc. (NASDAQ:SIRI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) have been assigned a consensus rating of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $26.1818.

Several equities analysts have recently commented on SIRI shares. Barrington Research restated an “outperform” rating and issued a $28.00 target price on shares of Sirius XM in a research report on Friday, August 1st. Rosenblatt Securities boosted their target price on shares of Sirius XM from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, August 4th. Wells Fargo & Company dropped their target price on shares of Sirius XM from $19.00 to $18.00 and set an “underweight” rating for the company in a research report on Friday, August 1st. Guggenheim restated a “buy” rating and issued a $29.00 target price on shares of Sirius XM in a research report on Thursday, June 26th. Finally, Morgan Stanley boosted their target price on shares of Sirius XM from $21.00 to $22.00 and gave the company an “underweight” rating in a research report on Wednesday, July 16th.

Insider Transactions at Sirius XM

In related news, Director Kristina Salen sold 1,651 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total transaction of $36,767.77. Following the completion of the transaction, the director directly owned 15,471 shares in the company, valued at $344,539.17. This represents a 9.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sirius XM

A number of institutional investors have recently added to or reduced their stakes in SIRI. Brighton Jones LLC bought a new stake in Sirius XM during the 4th quarter worth approximately $622,000. LPL Financial LLC grew its holdings in Sirius XM by 43.9% during the 4th quarter. LPL Financial LLC now owns 103,960 shares of the company’s stock worth $2,370,000 after acquiring an additional 31,712 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Sirius XM by 62.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 409,427 shares of the company’s stock worth $9,335,000 after acquiring an additional 157,807 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Sirius XM by 86.4% in the 4th quarter. Cerity Partners LLC now owns 43,731 shares of the company’s stock valued at $1,000,000 after purchasing an additional 20,273 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Sirius XM in the 4th quarter valued at $307,000. 10.69% of the stock is owned by institutional investors.

Sirius XM Stock Performance

NASDAQ SIRI opened at $23.03 on Monday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $7.76 billion, a P/E ratio of -3.41, a P/E/G ratio of 0.36 and a beta of 0.92. Sirius XM has a 12-month low of $18.69 and a 12-month high of $36.40. The firm has a 50-day moving average price of $22.77 and a two-hundred day moving average price of $22.69.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.22). The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a negative net margin of 26.41% and a positive return on equity of 3.73%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. Analysts anticipate that Sirius XM will post 3.2 earnings per share for the current year.

Sirius XM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Friday, August 8th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Friday, August 8th. Sirius XM’s dividend payout ratio is currently -16.00%.

Sirius XM Company Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company’s Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.