Sirius XM (NASDAQ:SIRI) Sets New 12-Month High – Time to Buy?

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $28.94 and last traded at $29.1820, with a volume of 3071102 shares changing hands. The stock had previously closed at $27.05.

Analyst Ratings Changes

Several analysts have issued reports on SIRI shares. Citigroup reaffirmed a “sell” rating and issued a $22.00 price objective (up from $19.00) on shares of Sirius XM in a research report on Monday, May 4th. Barrington Research increased their price objective on shares of Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Weiss Ratings raised shares of Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Evercore set a $28.00 price objective on shares of Sirius XM in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Sirius XM has a consensus rating of “Hold” and an average target price of $27.45.

Sirius XM Price Performance

The company has a debt-to-equity ratio of 0.83, a current ratio of 0.44 and a quick ratio of 0.44. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 0.63 and a beta of 0.94. The business’s 50-day moving average price is $24.88 and its two-hundred day moving average price is $22.48.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the company earned $0.59 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, research analysts forecast that Sirius XM Holdings Inc. will post 3.1 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Monday, May 11th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.7%. Sirius XM’s dividend payout ratio (DPR) is presently 45.57%.

Institutional Trading of Sirius XM

A number of hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd grew its position in shares of Sirius XM by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after buying an additional 417 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings 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 period. Krilogy Financial LLC boosted its holdings in Sirius XM by 1.1% in the fourth quarter. Krilogy Financial LLC now owns 53,572 shares of the company’s stock worth $1,097,000 after purchasing an additional 577 shares during the period. Rossby Financial LCC boosted its holdings in Sirius XM by 57.7% in the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after purchasing an additional 593 shares during the period. Finally, SBI Securities Co. Ltd. boosted its holdings in Sirius XM by 4.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 13,589 shares of the company’s stock worth $272,000 after purchasing an additional 594 shares during the period. Institutional investors and hedge funds own 10.69% of the company’s stock.

About Sirius XM

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.