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

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $28.94 and last traded at $29.1820, with a volume of 3071102 shares trading hands. The stock had previously closed at $27.05.

Analyst Ratings Changes

SIRI has been the topic of a number of recent research reports. Moffett Nathanson began coverage on Sirius XM in a research note on Tuesday, January 27th. They set a “neutral” rating and a $21.00 price objective on the stock. Evercore set a $28.00 target price on Sirius XM in a research report on Friday, May 1st. Weiss Ratings raised Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, May 1st. UBS Group set a $24.00 price target on Sirius XM in a research report on Tuesday, February 10th. Finally, Rosenblatt Securities cut their price objective on shares of Sirius XM from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.45.

Sirius XM Price Performance

The firm has a market capitalization of $9.75 billion, a P/E ratio of 12.22, a PEG ratio of 0.56 and a beta of 0.94. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $24.61 and its 200-day moving average is $22.38.

Sirius XM (NASDAQ:SIRI) last issued its 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. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the business posted $0.59 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that Sirius XM Holdings Inc. will post 3.1 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Investors 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 annualized dividend and a yield of 3.7%. Sirius XM’s dividend payout ratio (DPR) is 45.57%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Sunbelt Securities Inc. boosted its stake in shares of Sirius XM by 158.5% in the 1st quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock valued at $30,000 after purchasing an additional 794 shares in the last quarter. Root Financial Partners LLC grew its holdings in shares of Sirius XM by 612.8% during the 1st quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock valued at $32,000 after purchasing an additional 1,195 shares during the last quarter. Western Wealth Management LLC acquired a new position in Sirius XM during the 1st quarter worth approximately $33,000. Altshuler Shaham Ltd increased its position in Sirius XM by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after purchasing an additional 417 shares in the last quarter. Finally, Rossby Financial LCC lifted its stake in Sirius XM by 57.7% in the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock valued at $32,000 after purchasing an additional 593 shares during the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

Sirius XM Company Profile

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.