Sirius XM (NASDAQ:SIRI) Given New $24.00 Price Target at Rosenblatt Securities

Sirius XM (NASDAQ:SIRI) had its price objective lowered by Rosenblatt Securities from $29.00 to $24.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also commented on the company. Pivotal Research cut their price target on Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a report on Friday, November 1st. Guggenheim reduced their target price on Sirius XM from $30.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company lowered their price target on shares of Sirius XM from $22.00 to $16.00 and set an “underweight” rating on the stock in a report on Thursday, December 19th. StockNews.com initiated coverage on shares of Sirius XM in a research note on Wednesday, November 13th. They set a “sell” rating for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $26.96.

Sirius XM Stock Down 0.0 %

Shares of NASDAQ SIRI opened at $24.00 on Monday. The business’s fifty day moving average price is $23.62 and its 200-day moving average price is $26.68. Sirius XM has a one year low of $20.47 and a one year high of $51.80. The stock has a market capitalization of $8.14 billion, a PE ratio of -3.74, a P/E/G ratio of 1.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.42 and a quick ratio of 0.42.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, January 30th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.20. Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. On average, equities research analysts anticipate that Sirius XM will post 2.98 EPS for the current year.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.50%. The ex-dividend date is Friday, February 7th. Sirius XM’s dividend payout ratio is currently -16.85%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in Sirius XM by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after purchasing an additional 353,860 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Sirius XM by 37.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 282,600 shares of the company’s stock valued at $800,000 after acquiring an additional 76,552 shares during the period. Creative Planning grew its position in Sirius XM by 12.1% during the 2nd quarter. Creative Planning now owns 844,387 shares of the company’s stock worth $2,390,000 after acquiring an additional 91,223 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Sirius XM in the 2nd quarter worth approximately $3,041,000. Finally, Handelsbanken Fonder AB lifted its position in Sirius XM by 23.9% in the third quarter. Handelsbanken Fonder AB now owns 49,453 shares of the company’s stock valued at $1,170,000 after purchasing an additional 9,542 shares during the last quarter. 10.69% of the stock is owned by hedge funds and other institutional investors.

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.