Sirius XM (NASDAQ:SIRI) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the stock.

SIRI has been the topic of several other research reports. The Goldman Sachs Group raised shares of Sirius XM from a sell rating to a neutral rating and cut their price objective for the company from $3.50 to $3.25 in a research report on Wednesday, May 1st. Benchmark cut their price target on Sirius XM from $7.00 to $6.50 and set a buy rating for the company in a report on Wednesday, March 27th. Seaport Res Ptn raised Sirius XM from a neutral rating to a buy rating in a research note on Monday, April 29th. Pivotal Research upgraded Sirius XM from a hold rating to a buy rating and cut their price objective for the company from $5.05 to $4.90 in a research note on Wednesday, April 24th. Finally, Barrington Research reissued an outperform rating and issued a $5.75 target price on shares of Sirius XM in a report on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Sirius XM currently has an average rating of Hold and an average price target of $4.42.

Sirius XM Price Performance

SIRI stock opened at $2.75 on Thursday. The company has a market cap of $10.58 billion, a P/E ratio of 8.33, a price-to-earnings-growth ratio of 0.90 and a beta of 1.10. Sirius XM has a 1 year low of $2.70 and a 1 year high of $7.95. The stock’s fifty day moving average price is $3.31 and its 200-day moving average price is $4.38.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm posted $0.06 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts expect that Sirius XM will post 0.31 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be issued a $0.0266 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.11 dividend on an annualized basis and a yield of 3.87%. Sirius XM’s dividend payout ratio is currently 33.33%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Sirius XM by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after buying an additional 363,551 shares during the last quarter. Berkshire Hathaway Inc grew its holdings in shares of Sirius XM by 315.6% in 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 in the last quarter. AQR Capital Management LLC increased its position in Sirius XM by 482.9% in the third quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock worth $66,178,000 after purchasing an additional 12,129,166 shares during the last quarter. Northern Trust Corp raised its stake in Sirius XM by 18.7% during the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock valued at $50,878,000 after purchasing an additional 1,776,700 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in Sirius XM by 169.6% during the third quarter. New York State Common Retirement Fund now owns 10,303,486 shares of the company’s stock valued at $46,572,000 after purchasing an additional 6,482,109 shares during the last quarter. 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.