Sirius XM (NASDAQ:SIRI) Price Target Increased to $21.00 by Analysts at Citigroup

Sirius XM (NASDAQ:SIRI) had its target price lifted by Citigroup from $2.80 to $21.00 in a research note published on Thursday morning, Benzinga reports. Citigroup currently has a sell rating on the stock.

A number of other research firms also recently commented on SIRI. Evercore ISI upgraded Sirius XM from an underperform rating to an in-line rating and dropped their price objective for the company from $42.50 to $32.50 in a report on Monday, June 24th. Barrington Research reiterated an outperform rating and issued a $47.50 price target on shares of Sirius XM in a research report on Monday, July 15th. Rosenblatt Securities lifted their price objective on shares of Sirius XM from $3.40 to $28.00 and gave the stock a neutral rating in a research note on Monday, September 16th. Morgan Stanley reaffirmed an underweight rating and issued a $23.00 target price on shares of Sirius XM in a research note on Tuesday, September 24th. Finally, StockNews.com started coverage on shares of Sirius XM in a research report on Thursday. They set a hold rating on the stock. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $34.27.

Sirius XM Trading Up 0.1 %

Shares of NASDAQ SIRI opened at $24.38 on Thursday. Sirius XM has a 1 year low of $22.73 and a 1 year high of $57.80. The firm’s 50-day moving average is $30.10 and its 200-day moving average is $31.27. The firm has a market capitalization of $93.78 billion, a PE ratio of 73.88, a price-to-earnings-growth ratio of 0.83 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. As a group, equities research analysts anticipate that Sirius XM will post 3.08 earnings per share for the current fiscal year.

Sirius XM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders 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 4.36%. Sirius XM’s dividend payout ratio (DPR) is currently 321.21%.

Insider Transactions at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the transaction, the insider now owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Sirius XM

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Sirius XM by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after acquiring an additional 363,551 shares in the last quarter. Berkshire Hathaway Inc boosted its position in Sirius XM by 315.6% during the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after purchasing an additional 30,559,834 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Sirius XM in the second quarter valued at approximately $12,858,000. Dimensional Fund Advisors LP increased its position in shares of Sirius XM by 8.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after purchasing an additional 353,860 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Sirius XM by 14.5% during the 2nd quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock worth $10,807,000 after purchasing an additional 490,761 shares in the last quarter. 10.69% of the stock is owned by institutional investors.

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.