Rosenblatt Securities Has Lowered Expectations for Sirius XM (NASDAQ:SIRI) Stock Price

Sirius XM (NASDAQ:SIRI - Free Report) had its price objective cut by Rosenblatt Securities from $29.00 to $24.00 in a report released on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also recently issued reports on SIRI. Pivotal Research lowered their price target on shares of Sirius XM from $40.00 to $37.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Morgan Stanley dropped their price target on shares of Sirius XM from $23.00 to $21.00 and set an "underweight" rating on the stock in a research note on Thursday, January 23rd. Barrington Research reaffirmed an "outperform" rating and issued a $30.00 target price on shares of Sirius XM in a report on Thursday, January 30th. Guggenheim cut their price target on shares of Sirius XM from $30.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Sirius XM from $20.00 to $21.00 and gave the company an "underweight" rating in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Sirius XM has an average rating of "Hold" and an average target price of $26.96.

Sirius XM Trading Up 4.8 %

Shares of SIRI traded up $1.17 during trading hours on Monday, reaching $25.79. 8,671,177 shares of the company traded hands, compared to its average volume of 5,961,879. Sirius XM has a 12 month low of $20.47 and a 12 month high of $51.80. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of -4.02, a price-to-earnings-growth ratio of 1.25 and a beta of 1.06. The company's fifty day moving average price is $23.53 and its two-hundred day moving average price is $26.54. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.20. Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. Equities research analysts predict that Sirius XM will post 2.98 earnings per share for the current fiscal 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 given a $0.27 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.08 annualized dividend and a yield of 4.19%. Sirius XM's payout ratio is -16.85%.

Institutional Investors Weigh In On Sirius XM

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sessa Capital IM L.P. bought a new stake in Sirius XM during the third quarter valued at approximately $77,983,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Sirius XM in the 3rd quarter worth $67,598,000. Seizert Capital Partners LLC purchased a new position in Sirius XM during the third quarter valued at $46,173,000. Sanctuary Advisors LLC bought a new stake in Sirius XM during the second quarter valued at about $3,041,000. Finally, Check Capital Management Inc. CA increased its position in Sirius XM by 597.7% in the fourth quarter. Check Capital Management Inc. CA now owns 1,145,731 shares of the company's stock worth $26,123,000 after buying an additional 981,517 shares in the last quarter. Hedge funds and other institutional investors own 10.69% of the company's stock.

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.