Sirius XM Holdings Inc. (NASDAQ:SIRI) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts have a “Hold” consensus on Sirius XM, with 9 buy, 7 hold, and 3 sell ratings among 19 analysts. The average 12-month price target is $32.00, compared with shares opening at $29.37.
• Sirius XM’s latest quarterly earnings missed expectations, reporting $0.70 in EPS versus the $0.78 consensus, while revenue of $2.16 billion slightly exceeded estimates and rose 1% year over year.
• The company paid a quarterly dividend of $0.27, equivalent to a 3.7% annualized yield, while institutional ownership stood at 10.69% after several investment firms increased their positions.

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report) have earned an average recommendation of "Hold" from the nineteen analysts that are presently covering the firm, Marketbeat.com reports. Three 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 1-year price objective among brokers that have updated their coverage on the stock in the last year is $32.00.

A number of research analysts recently weighed in on SIRI shares. Rosenblatt Securities restated a "buy" rating and set a $45.00 price objective on shares of Sirius XM in a research report on Tuesday, July 28th. Wolfe Research began coverage on Sirius XM in a report on Wednesday, September 2nd. They set an "outperform" rating on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $32.00 price objective on shares of Sirius XM in a report on Friday, August 7th. Weiss Ratings upgraded Sirius XM from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 9th. Finally, Cantor Fitzgerald assumed coverage on Sirius XM in a report on Wednesday, September 2nd. They issued an "overweight" rating on the stock.

Insider Activity

In related news, Director Jonelle Procope sold 16,672 shares of the business's stock in a transaction that occurred on 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 approximately $550,069.38. The trade was a 47.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.27% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its holdings in Sirius XM by 250.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 212,389 shares of the company's stock valued at $6,274,000 after acquiring an additional 151,747 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Sirius XM by 23.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 23,736 shares of the company's stock valued at $701,000 after buying an additional 4,523 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of Sirius XM during the 2nd quarter valued at about $1,477,000. WINTON GROUP Ltd lifted its holdings in shares of Sirius XM by 1,801.7% in the 2nd quarter. WINTON GROUP Ltd now owns 298,563 shares of the company's stock valued at $8,820,000 after acquiring an additional 282,863 shares during the last quarter. Finally, Engineers Gate Manager LP grew its position in Sirius XM by 419.8% in the second quarter. Engineers Gate Manager LP now owns 303,029 shares of the company's stock worth $8,951,000 after acquiring an additional 244,730 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors.

Sirius XM Price Performance

Shares of SIRI opened at $29.37 on Tuesday. Sirius XM has a twelve month low of $19.76 and a twelve month high of $32.66. The company has a market capitalization of $9.90 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 0.52 and a beta of 0.95. The firm has a 50 day moving average of $29.60 and a 200 day moving average of $27.13. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.79.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.08). Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The business had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter in the prior year, the business posted $0.57 earnings per share. The business's revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts anticipate that Sirius XM will post 3 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, August 10th. Sirius XM's dividend payout ratio is 43.20%.

About Sirius XM

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.

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