Sirius XM (NASDAQ:SIRI) Downgraded by BidaskClub to “Buy”

BidaskClub downgraded shares of Sirius XM (NASDAQ:SIRI) from a strong-buy rating to a buy rating in a report published on Saturday, BidAskClub reports.

Several other research analysts have also recently issued reports on SIRI. Benchmark assumed coverage on shares of Sirius XM in a report on Wednesday, October 9th. They issued a hold rating and a $8.00 price objective for the company. ValuEngine cut shares of Sirius XM from a buy rating to a hold rating in a report on Wednesday, October 2nd. Pivotal Research reiterated a buy rating and issued a $7.70 price objective on shares of Sirius XM in a report on Friday, August 9th. Finally, Wells Fargo & Co assumed coverage on shares of Sirius XM in a report on Monday, September 23rd. They issued an outperform rating and a $8.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $7.32.

Shares of NASDAQ:SIRI traded up $0.02 during trading hours on Friday, hitting $6.33. The stock had a trading volume of 9,903,156 shares, compared to its average volume of 24,673,881. The stock’s fifty day simple moving average is $6.27 and its 200 day simple moving average is $5.94. Sirius XM has a 1-year low of $5.23 and a 1-year high of $6.51. The firm has a market capitalization of $28.17 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 2.49 and a beta of 1.01. The company has a debt-to-equity ratio of 46.63, a quick ratio of 0.33 and a current ratio of 0.33.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. Sirius XM had a net margin of 15.25% and a negative return on equity of 117.72%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the business earned $0.06 earnings per share. Sirius XM’s revenue was up 38.1% compared to the same quarter last year. As a group, research analysts anticipate that Sirius XM will post 0.21 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 8th will be issued a $0.0133 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This is a boost from Sirius XM’s previous quarterly dividend of $0.01. This represents a $0.05 annualized dividend and a dividend yield of 0.84%. Sirius XM’s dividend payout ratio (DPR) is 19.23%.

In related news, insider Jennifer C. Witz sold 504,830 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $6.02, for a total transaction of $3,039,076.60. Following the completion of the sale, the insider now directly owns 913,904 shares in the company, valued at $5,501,702.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas D. Barry sold 164,715 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $5.99, for a total transaction of $986,642.85. Following the sale, the vice president now owns 265,735 shares of the company’s stock, valued at $1,591,752.65. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Successful Portfolios LLC boosted its holdings in Sirius XM by 31.5% during the third quarter. Successful Portfolios LLC now owns 18,054 shares of the company’s stock worth $113,000 after buying an additional 4,322 shares in the last quarter. CLARET ASSET MANAGEMENT Corp boosted its holdings in Sirius XM by 24.8% during the third quarter. CLARET ASSET MANAGEMENT Corp now owns 17,498 shares of the company’s stock worth $109,000 after buying an additional 3,480 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Sirius XM by 12.3% during the third quarter. Pacer Advisors Inc. now owns 305,336 shares of the company’s stock worth $1,910,000 after buying an additional 33,522 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Sirius XM by 29.6% during the third quarter. State of Alaska Department of Revenue now owns 343,903 shares of the company’s stock worth $2,151,000 after buying an additional 78,557 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in Sirius XM by 6.6% during the second quarter. EP Wealth Advisors LLC now owns 27,875 shares of the company’s stock worth $156,000 after buying an additional 1,718 shares in the last quarter. Hedge funds and other institutional investors own 18.91% 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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