Sirius XM (NASDAQ:SIRI) Upgraded by Guggenheim to Buy

Guggenheim upgraded shares of Sirius XM (NASDAQ:SIRI) from a neutral rating to a buy rating in a report issued on Wednesday, Marketbeat reports. Guggenheim currently has $30.00 price target on the stock.

Several other analysts also recently weighed in on SIRI. Rosenblatt Securities lifted their price objective on Sirius XM from $3.40 to $28.00 and gave the company a neutral rating in a report on Monday, September 16th. The Goldman Sachs Group lowered their price target on shares of Sirius XM from $32.50 to $26.00 and set a neutral rating for the company in a research report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Sirius XM from $37.50 to $30.00 and set a hold rating on the stock in a report on Tuesday, August 6th. StockNews.com started coverage on Sirius XM in a report on Wednesday. They set a hold rating for the company. Finally, Citigroup downgraded Sirius XM from a neutral rating to a sell rating and set a $28.00 price target on the stock. in a report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $36.91.

Sirius XM Price Performance

Sirius XM stock opened at $24.95 on Wednesday. The stock has a market cap of $95.97 billion, a price-to-earnings ratio of 75.61, a price-to-earnings-growth ratio of 0.90 and a beta of 1.08. The firm has a 50-day moving average of $31.34 and a two-hundred day moving average of $31.94. Sirius XM has a 1 year low of $22.73 and a 1 year high of $57.80.

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, hitting the consensus estimate of $0.80. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. Research analysts expect that Sirius XM will post 3.14 earnings per share for the current year.

Sirius XM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.266 dividend. This represents a $1.06 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Sirius XM’s previous quarterly dividend of $0.03. Sirius XM’s dividend payout ratio (DPR) is currently 321.21%.

Insider Buying and Selling at Sirius XM

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction 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 transaction, the insider now directly 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 through this hyperlink. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SIRI. Van ECK Associates Corp acquired a new position in Sirius XM during the first quarter valued at $2,036,000. Morningstar Investment Services LLC acquired a new position in shares of Sirius XM in the 4th quarter valued at about $85,000. Assetmark Inc. boosted its stake in shares of Sirius XM by 1,320.9% in the fourth quarter. Assetmark Inc. now owns 39,076 shares of the company’s stock worth $214,000 after buying an additional 36,326 shares during the last quarter. Jump Financial LLC grew its holdings in Sirius XM by 25.2% during the fourth quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock worth $232,000 after acquiring an additional 8,541 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Sirius XM by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,957,960 shares of the company’s stock valued at $27,120,000 after acquiring an additional 218,211 shares in the last quarter. 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.