Analysts Set Sirius XM Holdings Inc. (NASDAQ:SIRI) Target Price at $30.92

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) have received a consensus rating of “Hold” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $30.9167.

Several analysts have recently weighed in on the stock. Morgan Stanley increased their price target on shares of Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Benchmark reaffirmed a “buy” rating on shares of Sirius XM in a research report on Wednesday, July 29th. Evercore set a $28.00 price objective on Sirius XM in a report on Friday, May 1st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $32.00 price objective on shares of Sirius XM in a research report on Friday, August 7th. Finally, Wells Fargo & Company raised their target price on Sirius XM from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st.

Sirius XM Price Performance

NASDAQ:SIRI opened at $28.69 on Friday. Sirius XM has a one year low of $19.76 and a one year high of $32.66. The stock has a market cap of $9.67 billion, a PE ratio of 11.48, a P/E/G ratio of 0.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46. The stock has a 50 day moving average price of $29.58 and a 200 day moving average price of $26.28.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.08). The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 earnings per share. Equities research analysts expect that Sirius XM will post 3.01 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, August 10th. Sirius XM’s payout ratio is 43.20%.

Insider Transactions at Sirius XM

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of Sirius XM stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.97, for a total transaction of $499,659.84. Following the completion of the sale, the director directly owned 18,354 shares in the company, valued at $550,069.38. This trade represents a 47.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the sale, the insider directly owned 20,163 shares in the company, valued at $601,462.29. This trade represents a 50.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.27% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp purchased a new stake in Sirius XM in the second quarter valued at approximately $25,000. Aberdeen Wealth Management LLC purchased a new position in shares of Sirius XM during the second quarter worth $26,000. Gables Capital Management Inc. purchased a new position in shares of Sirius XM during the second quarter worth $32,000. Global Retirement Partners LLC acquired a new stake in shares of Sirius XM in the second quarter valued at $32,000. Finally, Sunbelt Securities Inc. grew its stake in shares of Sirius XM by 158.5% in the first 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. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.