Sirius XM (NASDAQ:SIRI) Given New $22.00 Price Target at Rosenblatt Securities

Sirius XM (NASDAQ:SIRI) had its price target lowered by Rosenblatt Securities from $24.00 to $22.00 in a report released on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms have also weighed in on SIRI. Barrington Research set a $28.00 target price on shares of Sirius XM in a report on Friday, January 31st. Morgan Stanley lowered their price objective on Sirius XM from $23.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. Guggenheim reduced their target price on Sirius XM from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Seaport Res Ptn upgraded Sirius XM from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Six analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.65.

Sirius XM Price Performance

SIRI stock opened at $20.47 on Friday. Sirius XM has a 1 year low of $18.69 and a 1 year high of $41.60. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $6.93 billion, a PE ratio of -3.19, a price-to-earnings-growth ratio of 0.79 and a beta of 0.98. The business has a 50 day simple moving average of $22.00 and a 200-day simple moving average of $23.86.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, May 1st. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.11). The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.09 billion. Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business earned $0.07 earnings per share. Equities research analysts anticipate that Sirius XM will post 3.2 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 9th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 5.28%. The ex-dividend date of this dividend is Friday, May 9th. Sirius XM’s payout ratio is -16.85%.

Institutional Investors Weigh In On Sirius XM

Hedge funds have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC purchased a new stake in shares of Sirius XM during the first quarter worth $25,000. Union Bancaire Privee UBP SA purchased a new stake in Sirius XM during the 4th quarter worth about $26,000. Putney Financial Group LLC acquired a new stake in Sirius XM in the 4th quarter valued at about $27,000. First Command Advisory Services Inc. purchased a new position in shares of Sirius XM in the 4th quarter valued at about $30,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Sirius XM by 574.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company’s stock valued at $31,000 after buying an additional 1,144 shares during the period. 10.69% of the stock is currently owned by institutional investors and hedge funds.

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.