Brokerages Set Sirius XM Holdings Inc. (NASDAQ:SIRI) Price Target at $32.00

Sirius XM Holdings Inc. (NASDAQ:SIRI) has been given a consensus rating of “Hold” by the nineteen research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $32.1538.

A number of equities research analysts have commented on SIRI shares. Guggenheim reissued a “buy” rating and issued a $37.00 target price (up from $35.00) on shares of Sirius XM in a report on Thursday. Scotiabank assumed coverage on shares of Sirius XM in a report on Wednesday, September 2nd. They issued an “outperform” rating for the company. JPMorgan Chase & Co. lifted their price target on shares of Sirius XM from $26.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Wolfe Research began coverage on Sirius XM in a report on Wednesday, September 2nd. They issued an “outperform” rating on the stock. Finally, William Blair raised Sirius XM to a “market perform” rating in a report on Wednesday, September 2nd.

Sirius XM Stock Down 1.6%

SIRI stock opened at $27.31 on Tuesday. The stock has a market capitalization of $9.21 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 0.49 and a beta of 0.95. The company has a fifty day moving average of $29.42 and a 200-day moving average of $27.28. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46. Sirius XM has a one year low of $19.76 and a one year high of $32.66.

Sirius XM (NASDAQ:SIRI) last released 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 business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. As a group, analysts expect that Sirius XM will post 3 EPS for the current year.

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th were given a dividend of $0.27 per share. The ex-dividend date was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 4.0%. Sirius XM’s payout ratio is presently 43.20%.

Insider Activity at Sirius XM

In related news, Director Jonelle Procope sold 16,672 shares of Sirius XM stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total transaction of $499,659.84. Following the completion of the transaction, the director directly owned 18,354 shares in the company, valued at $550,069.38. The trade was a 47.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.27% of the stock is owned by corporate insiders.

Institutional Trading of Sirius XM

Several institutional investors and hedge funds have recently made changes to their positions in SIRI. BlackRock Inc. lifted its holdings in Sirius XM by 82.9% in the 2nd quarter. BlackRock Inc. now owns 17,602,229 shares of the company’s stock valued at $519,970,000 after purchasing an additional 7,977,045 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Sirius XM by 262.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company’s stock worth $145,426,000 after purchasing an additional 4,560,821 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Sirius XM by 38.3% during the second quarter. Bank of New York Mellon Corp now owns 3,012,240 shares of the company’s stock worth $88,982,000 after purchasing an additional 834,479 shares during the last quarter. Check Capital Management Inc. CA boosted its holdings in shares of Sirius XM by 2.0% during the first quarter. Check Capital Management Inc. CA now owns 2,942,595 shares of the company’s stock worth $67,915,000 after purchasing an additional 59,095 shares during the last quarter. Finally, Norges Bank acquired a new position in Sirius XM in the fourth quarter valued at $57,124,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Company Profile

Sirius XM Holdings Inc provides subscription-based audio entertainment and information services in the United States and Canada. Its SiriusXM service delivers commercial-free music, sports, news, talk and entertainment programming through satellite radio and internet streaming, including its mobile app and connected-vehicle platforms.

The company offers a broad range of exclusive and licensed content, including live sports coverage, original talk and comedy programs, news services, podcasts, and music channels organized by genre and artist.