Sirius XM (NASDAQ:SIRI) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Sirius XM (NASDAQ:SIRI) had its price objective raised by Rosenblatt Securities from $22.00 to $23.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also commented on SIRI. Barrington Research reaffirmed an “outperform” rating and issued a $28.00 target price on shares of Sirius XM in a research report on Friday, August 1st. Morgan Stanley raised their price objective on Sirius XM from $21.00 to $22.00 and gave the company an “underweight” rating in a research note on Wednesday, July 16th. Guggenheim restated a “buy” rating and set a $29.00 price objective on shares of Sirius XM in a report on Thursday, June 26th. Seaport Res Ptn upgraded Sirius XM from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their price target on shares of Sirius XM from $19.00 to $18.00 and set an “underweight” rating for the company in a research note on Friday, August 1st. Six equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $26.18.

Sirius XM Stock Performance

Shares of SIRI stock opened at $20.97 on Monday. The firm has a 50 day moving average of $22.74 and a 200-day moving average of $22.70. The company has a market cap of $7.06 billion, a price-to-earnings ratio of -3.11, a price-to-earnings-growth ratio of 0.33 and a beta of 0.92. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.89. Sirius XM has a 52 week low of $18.69 and a 52 week high of $36.40.

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

Sirius XM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Friday, August 8th will be issued a $0.27 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 5.2%. Sirius XM’s dividend payout ratio is currently -16.00%.

Insider Activity at Sirius XM

In related news, Director Kristina Salen sold 1,651 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total transaction of $36,767.77. Following the transaction, the director directly owned 15,471 shares in the company, valued at approximately $344,539.17. The trade was a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sirius XM

Several institutional investors and hedge funds have recently added to or reduced their stakes in SIRI. Unified Investment Management boosted its stake in shares of Sirius XM by 1.4% in the 2nd quarter. Unified Investment Management now owns 30,407 shares of the company’s stock worth $698,000 after buying an additional 425 shares during the last quarter. Applied Finance Capital Management LLC lifted its holdings in Sirius XM by 5.1% during the first quarter. Applied Finance Capital Management LLC now owns 9,779 shares of the company’s stock worth $220,000 after acquiring an additional 475 shares during the period. Geneos Wealth Management Inc. boosted its position in Sirius XM by 36.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after purchasing an additional 493 shares during the last quarter. True Wealth Design LLC grew its stake in Sirius XM by 47.8% in the 2nd quarter. True Wealth Design LLC now owns 1,616 shares of the company’s stock valued at $37,000 after purchasing an additional 523 shares during the period. Finally, Allegiance Financial Group Advisory Services LLC increased its position in shares of Sirius XM by 5.5% during the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 12,678 shares of the company’s stock valued at $286,000 after purchasing an additional 660 shares during the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

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.