Sirius XM’s (SIRI) “Buy” Rating Reiterated at Pivotal Research

Pivotal Research restated their buy rating on shares of Sirius XM (NASDAQ:SIRI) in a research note released on Thursday morning, TipRanks reports. Pivotal Research currently has a $7.50 price objective on the stock.

Several other research analysts have also recently weighed in on SIRI. Deutsche Bank lifted their price target on Sirius XM from $7.00 to $7.50 and gave the company a buy rating in a research report on Tuesday, July 21st. B. Riley lifted their price target on Sirius XM from $7.00 to $7.25 and gave the company a buy rating in a research note on Thursday, April 30th. Morgan Stanley upped their target price on Sirius XM from $6.25 to $6.75 and gave the stock an equal weight rating in a research note on Monday, June 15th. BidaskClub cut shares of Sirius XM from a hold rating to a sell rating in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Co lowered their price objective on Sirius XM from $9.00 to $7.00 and set an overweight rating on the stock in a report on Friday, April 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Sirius XM has an average rating of Hold and a consensus target price of $7.08.

NASDAQ SIRI opened at $5.88 on Thursday. The company has a market cap of $25.75 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 1.70 and a beta of 1.19. The stock’s fifty day moving average price is $5.85 and its 200 day moving average price is $6.00. Sirius XM has a 1 year low of $4.11 and a 1 year high of $7.40.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, July 30th. The company reported $0.05 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.05. Sirius XM had a negative return on equity of 141.29% and a net margin of 12.98%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that Sirius XM will post 0.23 earnings per share for the current year.

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

In other news, Director Gregory B. Maffei sold 84,750 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $5.60, for a total transaction of $474,600.00. Following the transaction, the director now owns 515,610 shares of the company’s stock, valued at approximately $2,887,416. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.93% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SIRI. XML Financial LLC lifted its holdings in Sirius XM by 23.7% in the second quarter. XML Financial LLC now owns 25,139 shares of the company’s stock valued at $148,000 after acquiring an additional 4,810 shares during the last quarter. Milestone Advisory Partners purchased a new stake in Sirius XM in the second quarter valued at $14,421,000. Fox Run Management L.L.C. acquired a new position in shares of Sirius XM in the 2nd quarter valued at $76,000. Hussman Strategic Advisors Inc. grew its holdings in shares of Sirius XM by 33.8% during the 2nd quarter. Hussman Strategic Advisors Inc. now owns 408,000 shares of the company’s stock worth $2,395,000 after purchasing an additional 103,000 shares during the period. Finally, UBS Group AG increased its position in shares of Sirius XM by 36.9% during the 2nd quarter. UBS Group AG now owns 2,426,085 shares of the company’s stock worth $14,242,000 after purchasing an additional 654,175 shares during the last quarter. Institutional investors and hedge funds own 18.46% of the company’s stock.

About Sirius XM

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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