Sirius XM’s (SIRI) Underweight Rating Reaffirmed at Morgan Stanley

Morgan Stanley restated their underweight rating on shares of Sirius XM (NASDAQ:SIRI) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a $23.00 price target on the stock.

Several other equities research analysts also recently weighed in on the stock. Citigroup downgraded shares of Sirius XM from a neutral rating to a sell rating and set a $28.00 target price for the company. in a research note on Thursday, July 25th. Rosenblatt Securities boosted their target price on Sirius XM from $3.40 to $28.00 and gave the stock a neutral rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft reduced their target price on Sirius XM from $37.50 to $30.00 and set a hold rating on the stock in a research report on Tuesday, August 6th. The Goldman Sachs Group dropped their price target on Sirius XM from $32.50 to $26.00 and set a neutral rating on the stock in a research note on Tuesday, September 17th. Finally, Evercore ISI raised shares of Sirius XM from an underperform rating to an in-line rating and decreased their price objective for the company from $42.50 to $32.50 in a research report on Monday, June 24th. Three investment 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 presently has an average rating of Hold and an average target price of $35.75.

Sirius XM Trading Down 5.8 %

SIRI opened at $24.10 on Tuesday. The firm has a market cap of $92.70 billion, a price-to-earnings ratio of 73.03, a PEG ratio of 0.90 and a beta of 1.08. Sirius XM has a 12 month low of $22.73 and a 12 month high of $57.80. The stock has a fifty day moving average price of $30.78 and a 200-day moving average price of $31.64.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. On average, equities research analysts forecast that Sirius XM will post 3.14 EPS 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 4.41%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Friday, August 9th. Sirius XM’s dividend payout ratio is presently 321.21%.

Insiders Place Their Bets

In other news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 98,933 shares in the company, valued at $3,126,282.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Sirius XM

Several large investors have recently made changes to their positions in the company. Mather Group LLC. acquired a new stake in Sirius XM during the second quarter valued at $28,000. First PREMIER Bank acquired a new stake in shares of Sirius XM during the 1st quarter valued at about $31,000. Walker Asset Management LLC purchased a new position in shares of Sirius XM in the 2nd quarter valued at about $33,000. Plato Investment Management Ltd acquired a new position in Sirius XM in the 2nd quarter worth about $35,000. Finally, Riverview Capital Advisers LLC purchased a new position in Sirius XM during the second quarter worth approximately $35,000. 10.69% of the stock is currently 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.