Sirius XM (NASDAQ:SIRI) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note published on Tuesday. The brokerage issued a hold rating on the stock.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group upgraded shares of Sirius XM from a sell rating to a neutral rating and dropped their price target for the stock from $3.50 to $3.25 in a research note on Wednesday, May 1st. Benchmark lowered their price objective on Sirius XM from $7.00 to $6.50 and set a buy rating for the company in a report on Wednesday, March 27th. Citigroup upgraded Sirius XM from a sell rating to a neutral rating and decreased their target price for the stock from $4.10 to $3.30 in a research report on Wednesday, April 24th. Pivotal Research raised shares of Sirius XM from a hold rating to a buy rating and decreased their price objective for the stock from $5.05 to $4.90 in a report on Wednesday, April 24th. Finally, Barrington Research reissued an outperform rating and set a $5.75 target price on shares of Sirius XM in a report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $4.42.

Sirius XM Trading Down 1.6 %

Shares of SIRI stock opened at $3.13 on Tuesday. Sirius XM has a twelve month low of $2.92 and a twelve month high of $7.95. The company has a market capitalization of $12.04 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 1.02 and a beta of 1.10. The firm has a fifty day simple moving average of $3.62 and a 200-day simple moving average of $4.52.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company earned $0.06 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts predict that Sirius XM will post 0.31 EPS for the current year.

Sirius XM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be paid a $0.0266 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.11 annualized dividend and a dividend yield of 3.40%. Sirius XM’s payout ratio is 33.33%.

Insider Activity at Sirius XM

In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the transaction, the insider now owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the transaction, the insider now owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

A number of large investors have recently added to or reduced their stakes in SIRI. BKM Wealth Management LLC purchased a new stake in shares of Sirius XM during the fourth quarter valued at $27,000. Truvestments Capital LLC purchased a new stake in Sirius XM during the third quarter valued at about $27,000. First United Bank & Trust acquired a new position in shares of Sirius XM in the fourth quarter worth about $37,000. TFO Wealth Partners LLC increased its position in shares of Sirius XM by 140,560.0% in the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after acquiring an additional 7,028 shares in the last quarter. Finally, American National Bank acquired a new stake in shares of Sirius XM during the fourth quarter valued at approximately $41,000. 10.69% of the stock is currently owned by institutional investors.

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.