Shares of Sirius XM Holdings Inc (NASDAQ:SIRI) have earned a consensus recommendation of “Hold” from the sixteen research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $6.98.
Several equities research analysts recently issued reports on SIRI shares. Citigroup increased their target price on shares of Sirius XM from $5.90 to $6.75 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Morgan Stanley increased their price objective on shares of Sirius XM from $6.25 to $6.75 and gave the stock an “equal weight” rating in a research note on Monday, June 15th. Zacks Investment Research cut shares of Sirius XM from a “buy” rating to a “hold” rating and set a $6.50 target price on the stock. in a research note on Tuesday, August 4th. Benchmark upgraded Sirius XM from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Wednesday. Finally, Deutsche Bank boosted their price objective on Sirius XM from $7.00 to $7.50 and gave the company a “buy” rating in a research report on Tuesday, July 21st.
A number of hedge funds and other institutional investors have recently made changes to their positions in SIRI. FMR LLC increased its holdings in shares of Sirius XM by 112.4% in the 1st quarter. FMR LLC now owns 710,989 shares of the company’s stock worth $4,031,000 after buying an additional 376,287 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Sirius XM by 4.6% during the first quarter. Envestnet Asset Management Inc. now owns 229,403 shares of the company’s stock valued at $1,133,000 after purchasing an additional 10,115 shares during the period. Comerica Bank raised its position in Sirius XM by 16.2% during the first quarter. Comerica Bank now owns 116,141 shares of the company’s stock valued at $640,000 after purchasing an additional 16,215 shares during the period. Sigma Planning Corp lifted its stake in shares of Sirius XM by 26.3% in the 1st quarter. Sigma Planning Corp now owns 27,361 shares of the company’s stock valued at $135,000 after purchasing an additional 5,701 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Sirius XM by 3.7% in the 1st quarter. Victory Capital Management Inc. now owns 3,516,412 shares of the company’s stock worth $17,371,000 after purchasing an additional 125,717 shares during the period. Institutional investors own 16.80% of the company’s stock.
Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. Sirius XM had a negative return on equity of 141.29% and a net margin of 12.98%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the company posted $0.06 earnings per share. Sirius XM’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities analysts expect that Sirius XM will post 0.23 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 7th were issued a $0.0133 dividend. The ex-dividend date was Thursday, August 6th. This represents a $0.05 dividend on an annualized basis and a yield of 0.99%. Sirius XM’s dividend payout ratio is currently 25.00%.
Sirius XM announced that its Board of Directors has initiated a share repurchase plan on Tuesday, July 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Sirius XM Company Profile
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.
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