Wells Fargo & Company Issues Positive Forecast for Sirius XM (NASDAQ:SIRI) Stock Price

Sirius XM (NASDAQ:SIRI - Free Report) had its price target boosted by Wells Fargo & Company from $16.00 to $19.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an underweight rating on the stock.

A number of other equities analysts also recently issued reports on SIRI. Barrington Research reiterated an "outperform" rating and set a $28.00 price target on shares of Sirius XM in a research report on Friday, May 2nd. Rosenblatt Securities reduced their target price on Sirius XM from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Seaport Res Ptn upgraded Sirius XM from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Guggenheim reissued a "buy" rating and issued a $29.00 price target on shares of Sirius XM in a report on Thursday, June 26th. Six analysts have rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $26.42.

Sirius XM Stock Performance

Shares of NASDAQ SIRI traded up $0.44 during midday trading on Wednesday, reaching $24.39. The company had a trading volume of 2,624,869 shares, compared to its average volume of 4,895,458. Sirius XM has a 1 year low of $18.69 and a 1 year high of $41.60. The business's 50-day simple moving average is $22.05 and its 200 day simple moving average is $22.54. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.93. The stock has a market cap of $8.24 billion, a P/E ratio of -3.74, a P/E/G ratio of 0.34 and a beta of 0.92.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.11). Sirius XM had a positive return on equity of 6.77% and a negative net margin of 25.00%. The firm had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.09 billion. During the same quarter last year, the business earned $0.07 EPS. The business's revenue was down 4.3% on a year-over-year basis. On average, analysts forecast that Sirius XM will post 3.2 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 9th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Friday, May 9th. Sirius XM's dividend payout ratio (DPR) is -16.56%.

Insider Buying and Selling at Sirius XM

In related news, Director Kristina Salen sold 1,651 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total transaction of $36,767.77. Following the completion of the sale, the director owned 15,471 shares of the company's stock, valued at approximately $344,539.17. This represents a 9.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.32% of the company's stock.

Institutional Investors Weigh In On Sirius XM

A number of large investors have recently made changes to their positions in the stock. Applied Finance Capital Management LLC boosted its position in shares of Sirius XM by 5.1% during the first quarter. Applied Finance Capital Management LLC now owns 9,779 shares of the company's stock worth $220,000 after buying an additional 475 shares during the period. Geneos Wealth Management Inc. lifted its stake in Sirius XM by 36.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company's stock worth $41,000 after acquiring an additional 493 shares in the last quarter. Xponance Inc. boosted its holdings in Sirius XM by 4.5% during the 4th quarter. Xponance Inc. now owns 12,341 shares of the company's stock valued at $281,000 after acquiring an additional 527 shares during the period. PNC Financial Services Group Inc. grew its position in Sirius XM by 4.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,856 shares of the company's stock valued at $339,000 after acquiring an additional 630 shares in the last quarter. Finally, Allegiance Financial Group Advisory Services LLC increased its stake in Sirius XM by 5.5% during the first quarter. Allegiance Financial Group Advisory Services LLC now owns 12,678 shares of the company's stock worth $286,000 after purchasing an additional 660 shares during the period. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Company Profile

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.