Wells Fargo & Company Lowers Sirius XM (NASDAQ:SIRI) Price Target to $2.50

Sirius XM (NASDAQ:SIRI) had its target price cut by Wells Fargo & Company from $3.00 to $2.50 in a report published on Wednesday morning, Benzinga reports. They currently have an underweight rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Barrington Research restated an outperform rating and issued a $5.75 price objective on shares of Sirius XM in a research report on Tuesday, April 30th. Citigroup raised shares of Sirius XM from a sell rating to a neutral rating and lowered their price target for the company from $4.10 to $3.30 in a report on Wednesday, April 24th. The Goldman Sachs Group raised Sirius XM from a sell rating to a neutral rating and reduced their price objective for the stock from $3.50 to $3.25 in a report on Wednesday. StockNews.com started coverage on Sirius XM in a research note on Monday, April 29th. They issued a hold rating for the company. Finally, Benchmark cut their price target on Sirius XM from $7.00 to $6.50 and set a buy rating on the stock in a research note on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Sirius XM presently has a consensus rating of Hold and an average target price of $4.42.

Sirius XM Trading Up 2.3 %

NASDAQ:SIRI opened at $3.12 on Wednesday. The stock has a market capitalization of $12.00 billion, a P/E ratio of 9.45, a price-to-earnings-growth ratio of 1.02 and a beta of 1.10. Sirius XM has a 1 year low of $2.92 and a 1 year high of $7.95. The firm has a 50 day moving average of $3.69 and a 200-day moving average of $4.54.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS. As a group, analysts forecast that Sirius XM will post 0.3 EPS for the current fiscal year.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Thursday, May 9th. Sirius XM’s dividend payout ratio (DPR) is currently 33.33%.

Insider Activity

In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the sale, the director now directly owns 1,091,472 shares in the company, valued at $5,370,042.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the sale, the insider now directly owns 746,816 shares in the company, valued at approximately $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SIRI. AE Wealth Management LLC lifted its holdings in shares of Sirius XM by 9.2% in the third quarter. AE Wealth Management LLC now owns 93,104 shares of the company’s stock valued at $421,000 after purchasing an additional 7,837 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Sirius XM in the 3rd quarter valued at approximately $282,000. Handelsbanken Fonder AB boosted its position in Sirius XM by 16.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 144,166 shares of the company’s stock worth $652,000 after acquiring an additional 19,832 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Sirius XM by 10.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 216,939 shares of the company’s stock worth $981,000 after acquiring an additional 20,001 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Sirius XM by 178.0% in the third quarter. Stratos Wealth Partners LTD. now owns 83,734 shares of the company’s stock valued at $378,000 after purchasing an additional 53,610 shares during the last quarter. 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.