Analysts Set Target Price of $25.13 for Sirius XM Holdings
Sirius XM Holdings Inc. has received a consensus rating of “Hold” from analysts, with a target price set at approximately $25.13. This assessment comes from eleven ratings firms currently covering the company, according to Marketbeat Ratings. The ratings break down as follows: four analysts suggest selling the stock, three recommend holding it, three advise buying, and one gives a strong buy recommendation.
Several research firms have recently adjusted their outlooks on Sirius XM. For instance, on August 1, Wells Fargo & Company reduced its price target from $19.00 to $18.00, assigning an “underweight” rating. Similarly, Weiss Ratings reaffirmed a “sell (d+)” rating on October 14. In contrast, Morgan Stanley raised its target from $21.00 to $22.00 while maintaining an “underweight” rating in a report dated July 16. Rosenblatt Securities also increased their target from $22.00 to $23.00, categorizing the stock as “neutral.” Finally, Barrington Research maintained an “outperform” rating with a price target of $28.00, also on August 1.
Sirius XM’s Current Financial Performance
Shares of Sirius XM (NASDAQ:SIRI) opened at $21.63 on Friday, with the stock having experienced a 1-year low of $18.69 and a high of $29.18. The company holds a market capitalization of $7.28 billion and a PE ratio of -3.20. Financial ratios indicate a debt-to-equity ratio of 0.89, a current ratio of 0.41, and a quick ratio of 0.41. The fifty-day moving average price stands at $22.77, while the two-hundred-day moving average is $22.37.
In its most recent earnings report released on July 31, Sirius XM reported earnings per share (EPS) of $0.57, falling short of the consensus estimate of $0.79 by $0.22. The company recorded a revenue of $2.14 billion for the quarter, slightly exceeding analyst expectations of $2.13 billion. Year-over-year comparisons show a decrease in quarterly revenue of 1.8%. For the current fiscal year, analysts expect Sirius XM to report an average EPS of 3.2.
Dividend Announcement and Future Outlook
Sirius XM also declared a quarterly dividend, scheduled for payment on November 21, 2023. Stockholders of record as of November 5 will receive a dividend of $0.27, representing an annualized dividend of $1.08 and a yield of 5.0%. Notably, Sirius XM’s current dividend payout ratio stands at -16.00%.
Sirius XM operates as an audio entertainment company across North America, divided into two main segments: Sirius XM and Pandora and Off-platform. The Sirius XM segment provides a variety of content, including music, sports, entertainment, comedy, talk, news, traffic, and weather channels, primarily through subscription services. This content is delivered via satellite radio systems and streaming applications for mobile and home devices.
As Sirius XM continues to navigate the competitive audio entertainment landscape, analysts will be closely watching how these financial metrics and ratings evolve in the coming months, potentially impacting investor confidence and the company’s market position.
