Sirius XM (NASDAQ:SIRI) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Sirius XM (NASDAQ:SIRI) from an underperform rating to an in-line rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have $3.25 price objective on the stock, down from their prior price objective of $4.25.

A number of other brokerages have also commented on SIRI. Benchmark decreased their price objective on Sirius XM from $7.00 to $6.50 and set a buy rating for the company in a report on Wednesday, March 27th. Citigroup raised Sirius XM from a sell rating to a neutral rating and reduced their target price for the company from $4.10 to $3.30 in a report on Wednesday, April 24th. Pivotal Research raised Sirius XM from a hold rating to a buy rating and reduced their target price for the company from $5.05 to $4.90 in a report on Wednesday, April 24th. Barrington Research reaffirmed an outperform rating and issued a $4.75 target price on shares of Sirius XM in a report on Tuesday, May 28th. Finally, Rosenblatt Securities reduced their target price on Sirius XM from $4.50 to $3.40 and set a neutral rating for the company in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sirius XM presently has a consensus rating of Hold and a consensus price target of $4.21.

Sirius XM Price Performance

Shares of Sirius XM stock opened at $2.70 on Monday. The business has a 50-day simple moving average of $2.89 and a 200 day simple moving average of $4.06. The firm has a market capitalization of $10.39 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 0.87 and a beta of 1.08. Sirius XM has a one year low of $2.45 and a one year high of $7.95.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 EPS. On average, sell-side analysts expect that Sirius XM will post 0.31 EPS for the current year.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 10th were paid a $0.0266 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.11 annualized dividend and a yield of 3.94%. Sirius XM’s payout ratio is 33.33%.

Insider Activity at Sirius XM

In other news, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total value of $32,546.80. Following the completion of the transaction, the director now directly owns 169,309 shares of the company’s stock, valued at $440,203.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sirius XM

Institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its position in shares of Sirius XM by 11.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 64,603 shares of the company’s stock valued at $292,000 after buying an additional 6,628 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Sirius XM during the 3rd quarter valued at $325,000. Invesco Ltd. raised its position in shares of Sirius XM by 24.1% during the 3rd quarter. Invesco Ltd. now owns 8,671,095 shares of the company’s stock valued at $39,193,000 after buying an additional 1,685,696 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Sirius XM during the 3rd quarter valued at $130,000. Finally, Hsbc Holdings PLC raised its position in shares of Sirius XM by 77.5% during the 3rd quarter. Hsbc Holdings PLC now owns 1,997,180 shares of the company’s stock valued at $9,280,000 after buying an additional 871,706 shares in the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

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.