The Sirius XM Holdings Inc. (SIRI) Given a $7.00 Price Target by Bank of America Corporation Analysts

The Sirius XM Holdings Inc. (SIRI) Given a $7.00 Price Target by Bank of America Corporation Analysts

Bank of America Corporation set a $7.00 price objective on Sirius XM Holdings Inc. (NASDAQ:SIRI) in a research note published on Thursday morning. The firm currently has a buy rating on the stock.

SIRI has been the subject of a number of other research reports. Vetr downgraded shares of Sirius XM Holdings from a strong-buy rating to a buy rating and set a $5.79 price objective for the company. in a research report on Monday, June 19th. BidaskClub raised shares of Sirius XM Holdings from a buy rating to a strong-buy rating in a research report on Saturday, July 1st. Zacks Investment Research downgraded shares of Sirius XM Holdings from a hold rating to a sell rating in a research report on Tuesday, July 4th. Macquarie reaffirmed a buy rating and set a $6.00 price objective (up previously from $5.65) on shares of Sirius XM Holdings in a research report on Thursday, July 27th. Finally, Piper Jaffray Companies set a $7.00 price objective on shares of Sirius XM Holdings and gave the company a buy rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $5.96.

Shares of Sirius XM Holdings (SIRI) remained flat at $5.71 during mid-day trading on Thursday. 8,675,665 shares of the company’s stock traded hands. The firm has a market capitalization of $26.34 billion, a PE ratio of 33.59 and a beta of 1.07. Sirius XM Holdings has a 1-year low of $4.07 and a 1-year high of $5.89. The stock has a 50-day moving average price of $5.58 and a 200 day moving average price of $5.34.

Sirius XM Holdings (NASDAQ:SIRI) last issued its earnings results on Thursday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. Sirius XM Holdings had a net margin of 15.47% and a negative return on equity of 99.07%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.04 EPS. On average, equities analysts forecast that Sirius XM Holdings will post $0.18 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 9th will be paid a dividend of $0.011 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This is a positive change from Sirius XM Holdings’s previous quarterly dividend of $0.01. This represents a $0.04 annualized dividend and a yield of 0.77%. Sirius XM Holdings’s dividend payout ratio is currently 25.00%.

Hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in Sirius XM Holdings by 21.3% during the second quarter. Victory Capital Management Inc. now owns 361,743 shares of the company’s stock valued at $1,979,000 after purchasing an additional 63,445 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Sirius XM Holdings by 17.2% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 533,483 shares of the company’s stock valued at $2,918,000 after acquiring an additional 78,260 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Sirius XM Holdings by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 7,628,218 shares of the company’s stock valued at $41,726,000 after acquiring an additional 111,962 shares in the last quarter. Engineers Gate Manager LP lifted its position in shares of Sirius XM Holdings by 603.6% in the 2nd quarter. Engineers Gate Manager LP now owns 97,890 shares of the company’s stock valued at $535,000 after acquiring an additional 83,978 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Sirius XM Holdings by 12.1% in the 1st quarter. UBS Group AG now owns 1,114,285 shares of the company’s stock valued at $5,739,000 after acquiring an additional 119,915 shares in the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

About Sirius XM Holdings

Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.

Related posts

Leave a Comment