Sirius XM’s (SIRI) “Buy” Rating Reaffirmed at Barrington Research

Barrington Research restated their buy rating on shares of Sirius XM (NASDAQ:SIRI) in a report issued on Thursday morning, AnalystRatings.com reports. Barrington Research currently has a $7.50 target price on the stock. Barrington Research also issued estimates for Sirius XM’s FY2020 earnings at $0.22 EPS, Q2 2021 earnings at $0.05 EPS and FY2022 earnings at $0.29 EPS.

Several other equities analysts have also issued reports on SIRI. Barclays reduced their price target on Sirius XM from $5.50 to $4.50 and set an underweight rating on the stock in a research report on Thursday, April 9th. Deutsche Bank raised their target price on shares of Sirius XM from $7.00 to $7.50 and gave the stock a buy rating in a report on Tuesday, July 21st. BidaskClub lowered shares of Sirius XM from a hold rating to a sell rating in a report on Wednesday, July 22nd. Pivotal Research reissued a buy rating and issued a $6.50 price target on shares of Sirius XM in a report on Thursday, May 14th. Finally, Morgan Stanley boosted their price objective on shares of Sirius XM from $6.25 to $6.75 and gave the company an equal weight rating in a research report on Monday, June 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. Sirius XM presently has an average rating of Hold and a consensus price target of $7.08.

SIRI stock opened at $5.88 on Thursday. The firm has a market cap of $25.75 billion, a P/E ratio of 26.73, a P/E/G ratio of 1.70 and a beta of 1.19. The firm’s fifty day moving average is $5.85 and its 200 day moving average is $6.00. Sirius XM has a 52 week low of $4.11 and a 52 week high of $7.40.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Sirius XM had a net margin of 12.98% and a negative return on equity of 141.29%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business posted $0.06 earnings per share. The company’s revenue was down 5.2% on a year-over-year basis. As a group, equities analysts predict that Sirius XM will post 0.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 7th will be given a $0.0133 dividend. This represents a $0.05 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Thursday, August 6th. Sirius XM’s dividend payout ratio is currently 25.00%.

In other Sirius XM news, Director Gregory B. Maffei sold 84,750 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $5.60, for a total transaction of $474,600.00. Following the completion of the transaction, the director now owns 515,610 shares of the company’s stock, valued at $2,887,416. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.93% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in shares of Sirius XM by 5.8% in the first quarter. Royal Bank of Canada now owns 425,688 shares of the company’s stock worth $2,104,000 after acquiring an additional 23,507 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Sirius XM by 3.6% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,356,391 shares of the company’s stock valued at $6,700,000 after buying an additional 47,693 shares during the last quarter. Advisor Group Holdings Inc. purchased a new position in Sirius XM in the 1st quarter worth approximately $1,393,000. Man Group plc lifted its position in Sirius XM by 436.1% in the 4th quarter. Man Group plc now owns 907,831 shares of the company’s stock valued at $6,491,000 after acquiring an additional 738,482 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its stake in shares of Sirius XM by 73.1% in the first quarter. Gateway Investment Advisers LLC now owns 1,074,038 shares of the company’s stock worth $5,306,000 after purchasing an additional 453,509 shares during the last quarter. Institutional investors own 18.46% of the company’s stock.

Sirius XM Company Profile

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, 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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Analyst Recommendations for Sirius XM (NASDAQ:SIRI)

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