Sirius XM (NASDAQ:SIRI) Reaches New 1-Year Low at $2.92

Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $2.92 and last traded at $2.93, with a volume of 8299365 shares trading hands. The stock had previously closed at $2.99.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Sirius XM from $3.00 to $2.50 and set an "underweight" rating for the company in a research report on Wednesday, May 1st. Benchmark dropped their price target on Sirius XM from $7.00 to $6.50 and set a "buy" rating for the company in a research note on Wednesday, March 27th. StockNews.com assumed coverage on Sirius XM in a research note on Wednesday, May 15th. They set a "hold" rating for the company. Rosenblatt Securities lowered their target price on Sirius XM from $4.50 to $3.40 and set a "neutral" rating for the company in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group raised Sirius XM from a "sell" rating to a "neutral" rating and lowered their target price for the stock from $3.50 to $3.25 in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Sirius XM currently has a consensus rating of "Hold" and a consensus price target of $4.42.

Sirius XM Price Performance

The company has a fifty day moving average of $3.41 and a 200 day moving average of $4.44. The firm has a market capitalization of $11.12 billion, a P/E ratio of 9.06, a PEG ratio of 0.98 and a beta of 1.10.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $2.13 billion. During the same period in the prior year, the business posted $0.06 earnings per share. The firm's revenue was up .8% on a year-over-year basis. On average, sell-side analysts forecast that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, May 9th. Sirius XM's payout ratio is 33.33%.

Hedge Funds Weigh In On Sirius XM

A number of institutional investors have recently modified their holdings of SIRI. Truvestments Capital LLC purchased a new stake in Sirius XM in the 3rd quarter valued at $27,000. BKM Wealth Management LLC purchased a new stake in Sirius XM in the 4th quarter valued at $27,000. First PREMIER Bank purchased a new stake in Sirius XM in the 1st quarter valued at $31,000. First United Bank & Trust purchased a new stake in Sirius XM in the 4th quarter valued at $37,000. Finally, TFO Wealth Partners LLC raised its position in Sirius XM by 140,560.0% in the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company's stock valued at $38,000 after buying an additional 7,028 shares during the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

About Sirius XM

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.

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