Sirius XM (NASDAQ:SIRI) Reaches New 12-Month High – Here’s Why

Sirius XM Holdings Inc. (NASDAQ:SIRI) reached a new 52-week high during trading on Wednesday . The company traded as high as $30.11 and last traded at $29.63, with a volume of 7525285 shares traded. The stock had previously closed at $28.89.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SIRI. Guggenheim restated a “buy” rating and set a $34.00 price target (up from $29.00) on shares of Sirius XM in a research report on Friday, April 24th. Citigroup reiterated a “sell” rating and issued a $22.00 price objective (up from $19.00) on shares of Sirius XM in a research report on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Rosenblatt Securities decreased their price objective on Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Finally, Barrington Research increased their price objective on Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.45.

Sirius XM Stock Performance

The stock has a 50 day moving average price of $25.17 and a two-hundred day moving average price of $22.58. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.83. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 0.62 and a beta of 0.94.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 EPS. Analysts predict that Sirius XM Holdings Inc. will post 3.1 EPS for the current year.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Monday, May 11th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.6%. Sirius XM’s dividend payout ratio is 45.57%.

Institutional Trading of Sirius XM

Several hedge funds have recently added to or reduced their stakes in SIRI. Brighton Jones LLC acquired a new stake in Sirius XM during the 4th quarter worth $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Sirius XM by 11.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company’s stock worth $20,861,000 after buying an additional 92,111 shares during the period. Focus Partners Wealth raised its stake in Sirius XM by 5.2% during the 1st quarter. Focus Partners Wealth now owns 16,273 shares of the company’s stock worth $367,000 after buying an additional 800 shares during the period. Geneos Wealth Management Inc. raised its stake in Sirius XM by 36.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after buying an additional 493 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in Sirius XM during the 2nd quarter worth $208,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

About Sirius XM

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.