Shares of Sirius XM Holdings Inc (NASDAQ:SIRI) have received an average recommendation of “Hold” from the seventeen brokerages that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $6.83.
A number of analysts have recently commented on the company. BidaskClub upgraded Sirius XM from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. Pivotal Research reiterated a “hold” rating and set a $7.00 target price on shares of Sirius XM in a research report on Wednesday, October 24th. Zacks Investment Research upgraded Sirius XM from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a research report on Monday, October 8th. MKM Partners boosted their price target on Sirius XM from $8.00 to $9.15 and gave the company a “neutral” rating in a research report on Thursday, September 27th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $7.50 price target (down previously from $8.50) on shares of Sirius XM in a research report on Tuesday, September 25th.
A number of hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. increased its position in Sirius XM by 1.8% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,333,718 shares of the company’s stock worth $33,709,000 after purchasing an additional 92,238 shares during the period. Parametrica Management Ltd increased its position in Sirius XM by 71.7% during the 3rd quarter. Parametrica Management Ltd now owns 32,871 shares of the company’s stock worth $208,000 after purchasing an additional 13,731 shares during the period. Commonwealth Equity Services LLC increased its position in Sirius XM by 2.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 853,569 shares of the company’s stock worth $5,394,000 after purchasing an additional 17,524 shares during the period. Janney Montgomery Scott LLC increased its position in Sirius XM by 68.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 98,044 shares of the company’s stock worth $620,000 after purchasing an additional 39,914 shares during the period. Finally, BP PLC acquired a new position in Sirius XM during the 3rd quarter worth approximately $1,041,000. Hedge funds and other institutional investors own 18.61% of the company’s stock.
Sirius XM (NASDAQ:SIRI) last posted its earnings results on Wednesday, October 24th. The company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. Sirius XM had a negative return on equity of 78.49% and a net margin of 15.64%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts predict that Sirius XM will post 0.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 9th will be given a $0.0121 dividend. This represents a $0.05 annualized dividend and a yield of 0.76%. The ex-dividend date is Thursday, November 8th. This is a boost from Sirius XM’s previous quarterly dividend of $0.01. Sirius XM’s payout ratio is 20.00%.
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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