Sirius XM (NASDAQ:SIRI) Stock Rating Upgraded by Guggenheim

Guggenheim upgraded shares of Sirius XM (NASDAQ:SIRI) from a neutral rating to a buy rating in a research note released on Wednesday, MarketBeat Ratings reports. The brokerage currently has $30.00 price objective on the stock.

SIRI has been the topic of a number of other research reports. The Goldman Sachs Group cut their price target on shares of Sirius XM from $32.50 to $26.00 and set a neutral rating on the stock in a report on Tuesday. Citigroup lowered Sirius XM from a neutral rating to a sell rating and set a $28.00 target price on the stock. in a report on Thursday, July 25th. Evercore ISI upgraded Sirius XM from an underperform rating to an in-line rating and decreased their price target for the stock from $42.50 to $32.50 in a research note on Monday, June 24th. StockNews.com initiated coverage on Sirius XM in a research note on Wednesday. They issued a hold rating on the stock. Finally, Rosenblatt Securities upped their target price on Sirius XM from $3.40 to $28.00 and gave the stock a neutral rating in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $36.91.

Sirius XM Trading Up 3.9 %

SIRI opened at $24.95 on Wednesday. Sirius XM has a 1 year low of $22.73 and a 1 year high of $57.80. The stock has a fifty day moving average price of $31.34 and a 200 day moving average price of $32.01. The stock has a market cap of $95.97 billion, a price-to-earnings ratio of 75.61, a PEG ratio of 0.90 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. As a group, sell-side analysts forecast that Sirius XM will post 3.14 earnings per share for the current fiscal year.

Sirius XM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.266 dividend. This is an increase from Sirius XM’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.06 annualized dividend and a dividend yield of 4.26%. Sirius XM’s dividend payout ratio (DPR) is presently 321.21%.

Insider Buying and Selling

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total value of $4,573,246.80. Following the sale, the insider now directly owns 98,933 shares in the company, valued at approximately $3,126,282.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Sirius XM

A number of hedge funds have recently modified their holdings of the company. Mather Group LLC. bought a new stake in shares of Sirius XM during the second quarter valued at approximately $28,000. First PREMIER Bank bought a new stake in Sirius XM in the 1st quarter valued at $31,000. Walker Asset Management LLC bought a new stake in Sirius XM in the 2nd quarter valued at $33,000. Plato Investment Management Ltd bought a new position in shares of Sirius XM during the 2nd quarter worth about $35,000. Finally, Riverview Capital Advisers LLC acquired a new stake in shares of Sirius XM during the 2nd quarter valued at about $35,000. Institutional investors own 10.69% of the company’s stock.

About Sirius XM

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.