Sirius XM (NASDAQ:SIRI) Reaches New 52-Week High – Still a Buy?

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

Analyst Ratings Changes

A number of research analysts have recently commented on SIRI shares. Evercore set a $28.00 price target on Sirius XM in a research note on Friday, May 1st. Rosenblatt Securities reduced 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. Moffett Nathanson began coverage on Sirius XM in a report on Tuesday, January 27th. They issued a “neutral” rating and a $21.00 target price for the company. Guggenheim reiterated a “buy” rating and issued a $34.00 target price (up from $29.00) on shares of Sirius XM in a research report on Friday, April 24th. Finally, Weiss Ratings raised Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $27.45.

Sirius XM Trading Up 7.0%

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 company has a market cap of $9.75 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.56 and a beta of 0.94. The firm has a 50 day moving average price of $24.61 and a two-hundred day moving average price of $22.38.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $0.59 earnings per share. As a group, equities analysts forecast that Sirius XM Holdings Inc. will post 3.1 earnings per share for the current year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Monday, May 11th will be given a $0.27 dividend. The ex-dividend date is Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.7%. Sirius XM’s payout ratio is 45.57%.

Hedge Funds Weigh In On Sirius XM

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