The Goldman Sachs Group Lowers Sirius XM (NASDAQ:SIRI) Price Target to $26.00

Sirius XM (NASDAQ:SIRI) had its price objective reduced by The Goldman Sachs Group from $32.50 to $26.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued research reports about the stock. Guggenheim dropped their price objective on shares of Sirius XM from $33.00 to $29.00 and set a neutral rating on the stock in a research note on Thursday, June 27th. StockNews.com began coverage on shares of Sirius XM in a report on Monday, August 19th. They issued a hold rating on the stock. Citigroup cut shares of Sirius XM from a neutral rating to a sell rating and set a $28.00 price objective for the company. in a research report on Thursday, July 25th. Barrington Research reaffirmed an outperform rating and set a $47.50 target price on shares of Sirius XM in a research report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Sirius XM from $37.50 to $30.00 and set a hold rating on the stock in a research note on Tuesday, August 6th. Two 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 data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $36.91.

Sirius XM Trading Up 3.2 %

Shares of NASDAQ SIRI opened at $24.02 on Tuesday. The stock has a fifty day moving average price of $31.58 and a 200 day moving average price of $32.13. Sirius XM has a 12-month low of $22.73 and a 12-month high of $57.80. The company has a market cap of $92.40 billion, a P/E ratio of 72.79, a P/E/G ratio of 0.90 and a beta of 1.08.

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

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.266 dividend. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 annualized dividend and a yield of 4.43%. The ex-dividend date was Friday, August 9th. Sirius XM’s payout ratio is currently 321.21%.

Insiders Place Their Bets

In other news, insider Scott Andrew Greenstein sold 144,723 shares of the business’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 value of $4,573,246.80. Following the completion of the sale, the insider now directly owns 98,933 shares in the company, valued at approximately $3,126,282.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. TFO Wealth Partners LLC lifted its holdings in Sirius XM by 140,560.0% in the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after acquiring an additional 7,028 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Sirius XM by 66.6% in the 4th quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock worth $44,000 after purchasing an additional 3,194 shares during the last quarter. First PREMIER Bank acquired a new position in Sirius XM during the 1st quarter valued at approximately $31,000. ICA Group Wealth Management LLC bought a new position in Sirius XM during the 4th quarter worth $48,000. Finally, Avenir Corp acquired a new stake in Sirius XM in the fourth quarter worth $55,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Sirius XM Company Profile

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.