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

Key Points

• Analyst consensus is “Hold”: Of 12 analysts covering Sirius XM, three recommend selling, five recommend holding and four recommend buying. The average 12-month price target is $30.92.
• Quarterly results were mixed: Sirius XM reported $0.70 in earnings per share, below the $0.78 consensus estimate, while revenue of $2.16 billion slightly exceeded forecasts and rose 1% year over year.
• The company maintains an income appeal: Sirius XM declared a quarterly dividend of $0.27 per share, equivalent to $1.08 annually and a 3.8% yield; insiders own 3.27% of the stock, while institutional investors own 10.69%.

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report) have been assigned an average rating of "Hold" from the twelve analysts that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $30.9167.

SIRI has been the subject of several research analyst reports. UBS Group set a $30.00 price objective on shares of Sirius XM in a research report on Wednesday, July 29th. Barrington Research raised their target price on Sirius XM from $28.00 to $32.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Evercore set a $28.00 price target on Sirius XM in a research note on Friday, May 1st. Guggenheim reissued a "buy" rating and set a $35.00 price target (up from $34.00) on shares of Sirius XM in a report on Friday, July 31st. Finally, Weiss Ratings upgraded Sirius XM from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 9th.

Insider Transactions at Sirius XM

In other news, Director Jonelle Procope sold 16,672 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the completion of the transaction, the director owned 18,354 shares of the company's stock, valued at approximately $550,069.38. This represents a 47.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott Andrew Greenstein sold 20,744 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the sale, the insider owned 20,163 shares in the company, valued at approximately $601,462.29. The trade was a 50.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Sirius XM

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp bought a new position in shares of Sirius XM in the 2nd quarter valued at $25,000. Aberdeen Wealth Management LLC bought a new stake in Sirius XM during the 2nd quarter worth $26,000. Gables Capital Management Inc. bought a new stake in Sirius XM during the 2nd quarter worth $32,000. Global Retirement Partners LLC acquired a new position in Sirius XM in the 2nd quarter worth about $32,000. Finally, Sunbelt Securities Inc. increased its holdings in Sirius XM by 158.5% in the 1st quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company's stock worth $30,000 after purchasing an additional 794 shares in the last quarter. Institutional investors own 10.69% of the company's stock.

Sirius XM Stock Performance

NASDAQ SIRI opened at $28.39 on Friday. The stock has a market cap of $9.57 billion, a PE ratio of 11.36, a P/E/G ratio of 0.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a 50-day moving average of $29.56 and a 200-day moving average of $26.22. Sirius XM has a 52-week low of $19.76 and a 52-week high of $32.66.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.70 earnings per share 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 company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the firm earned $0.57 earnings per share. Sirius XM's revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts anticipate that Sirius XM will post 3.01 EPS for the current year.

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 3.8%. Sirius XM's payout ratio is presently 43.20%.

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.

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