Sirius XM (SIRI) Upgraded at BidaskClub

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BidaskClub upgraded shares of Sirius XM (NASDAQ:SIRI) from a hold rating to a buy rating in a research note published on Thursday morning.

SIRI has been the topic of several other reports. Bank of America upped their price objective on shares of Sirius XM from $7.00 to $8.00 and gave the company a buy rating in a report on Thursday, June 14th. Morgan Stanley upped their price objective on shares of Sirius XM from $6.00 to $6.20 and gave the company an underweight rating in a report on Monday, August 6th. Credit Suisse Group initiated coverage on shares of Sirius XM in a report on Tuesday, July 10th. They issued an outperform rating and a $8.50 price objective on the stock. Barclays downgraded shares of Sirius XM from an equal weight rating to an underweight rating and set a $5.00 price target on the stock. in a report on Tuesday, June 26th. Finally, Barrington Research raised shares of Sirius XM from a market perform rating to an outperform rating and set a $8.00 price target on the stock in a report on Friday, June 29th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $6.78.

SIRI stock opened at $7.13 on Thursday. The firm has a market capitalization of $31.98 billion, a PE ratio of 30.96, a price-to-earnings-growth ratio of 1.90 and a beta of 1.03. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of -4.70. Sirius XM has a 12 month low of $5.17 and a 12 month high of $7.70.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Wednesday, July 25th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. Sirius XM had a net margin of 14.68% and a negative return on equity of 78.24%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 EPS. research analysts expect that Sirius XM will post 0.25 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Friday, August 10th were issued a dividend of $0.011 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Thursday, August 9th. Sirius XM’s dividend payout ratio (DPR) is presently 20.00%.

In other Sirius XM news, EVP Dara F. Altman sold 387,696 shares of the stock in a transaction on Tuesday, June 19th. The shares were sold at an average price of $7.49, for a total transaction of $2,903,843.04. Following the transaction, the executive vice president now directly owns 2,010,556 shares of the company’s stock, valued at $15,059,064.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Stephen Cook sold 415,502 shares of the stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $7.20, for a total transaction of $2,991,614.40. Following the transaction, the executive vice president now directly owns 1,988,300 shares in the company, valued at $14,315,760. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Schroder Investment Management Group lifted its holdings in Sirius XM by 90.7% during the second quarter. Schroder Investment Management Group now owns 2,717,695 shares of the company’s stock valued at $18,534,000 after purchasing an additional 1,292,912 shares in the last quarter. Massmutual Trust Co. FSB ADV purchased a new position in Sirius XM during the second quarter valued at $1,036,000. HighPoint Advisor Group LLC purchased a new position in Sirius XM during the second quarter valued at $168,000. Andra AP fonden purchased a new position in Sirius XM during the second quarter valued at $5,884,000. Finally, Verition Fund Management LLC purchased a new position in Sirius XM during the second quarter valued at $111,000. 18.51% of the stock is currently owned by institutional investors and hedge funds.

Sirius XM Company Profile

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to 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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Analyst Recommendations for Sirius XM (NASDAQ:SIRI)

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