FBR & Co Reaffirms “Outperform” Rating for Sirius XM Holdings Inc. (NASDAQ:SIRI)

FBR & Co reissued their outperform rating on shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in a report published on Sunday morning. They currently have a $6.00 price objective on the stock, up from their previous price objective of $5.70.

Several other analysts have also recently weighed in on the stock. Macquarie reaffirmed an outperform rating and issued a $5.85 target price on shares of Sirius XM Holdings in a report on Thursday, April 13th. Vetr raised shares of Sirius XM Holdings from a hold rating to a buy rating and set a $5.79 price objective on the stock in a report on Monday, June 12th. Morgan Stanley cut shares of Sirius XM Holdings from an equal weight rating to an underweight rating and set a $4.80 price objective on the stock. in a report on Wednesday, April 19th. Zacks Investment Research cut shares of Sirius XM Holdings from a hold rating to a sell rating in a report on Tuesday, July 4th. Finally, Piper Jaffray Companies set a $7.00 price objective on shares of Sirius XM Holdings and gave the stock a buy rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. Sirius XM Holdings presently has a consensus rating of Hold and a consensus target price of $5.56.

Shares of Sirius XM Holdings (NASDAQ:SIRI) opened at 5.79 on Friday. The stock has a 50 day moving average of $5.40 and a 200 day moving average of $5.11. Sirius XM Holdings has a 12-month low of $4.05 and a 12-month high of $5.89. The company has a market cap of $26.71 billion, a price-to-earnings ratio of 34.06 and a beta of 1.11.

Sirius XM Holdings (NASDAQ:SIRI) last issued its earnings results on Thursday, July 27th. The company reported $0.04 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Sirius XM Holdings had a net margin of 15.47% and a negative return on equity of 99.07%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 earnings per share. Analysts forecast that Sirius XM Holdings will post $0.18 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This piece was originally reported by [[site]] and is owned by of [[site]]. If you are accessing this piece on another site, it was illegally stolen and republished in violation of US and international trademark and copyright laws. The original version of this piece can be read at [[permalink]].

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 10th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.69%. Sirius XM Holdings’s payout ratio is 25.00%.

Institutional investors have recently made changes to their positions in the stock. Morse Asset Management Inc boosted its position in shares of Sirius XM Holdings by 18.9% in the second quarter. Morse Asset Management Inc now owns 31,500 shares of the company’s stock worth $172,000 after buying an additional 5,000 shares during the last quarter. Advisor Partners LLC boosted its position in shares of Sirius XM Holdings by 103.7% in the second quarter. Advisor Partners LLC now owns 23,449 shares of the company’s stock worth $128,000 after buying an additional 11,938 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new position in shares of Sirius XM Holdings during the second quarter worth approximately $2,188,000. Palladium Partners LLC acquired a new position in shares of Sirius XM Holdings during the second quarter worth approximately $154,000. Finally, IFP Advisors Inc boosted its position in shares of Sirius XM Holdings by 7.3% in the second quarter. IFP Advisors Inc now owns 108,920 shares of the company’s stock worth $596,000 after buying an additional 7,375 shares during the last quarter. 22.03% of the stock is currently owned by institutional investors and hedge funds.

Sirius XM Holdings Company Profile

Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.