Sirius XM Radio Upgraded by Evercore Partners to Overweight (SIRI)
Sirius XM Radio (NASDAQ:SIRI) was upgraded by stock analysts at Evercore Partners from an “equal weight” rating to an “overweight” rating in a report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $4.50 price objective on the stock, up from their previous price objective of $3.90. Evercore Partners’ target price indicates a potential upside of 28.57% from the stock’s previous close. The analysts noted that the move was a valuation call.
Shares of Sirius XM Radio (NASDAQ:SIRI) traded up 2.71% during mid-day trading on Friday, hitting $3.595. 21,100,520 shares of the company’s stock traded hands. Sirius XM Radio has a one year low of $2.95 and a one year high of $4.18. The stock has a 50-day moving average of $3.61 and a 200-day moving average of $3.6. The company has a market cap of $22.057 billion and a price-to-earnings ratio of 47.95.
Sirius XM Radio (NASDAQ:SIRI) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.02 by $0.01. The company had revenue of $962.00 million for the quarter, compared to the consensus estimate of $969.49 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis.
A number of other firms have also recently commented on SIRI. Analysts at Zacks reiterated a “neutral” rating on shares of Sirius XM Radio in a research note to investors on Monday, December 23rd. They now have a $3.75 price target on the stock. Separately, analysts at Wunderlich upgraded shares of Sirius XM Radio from a “hold” rating to a “buy” rating in a research note to investors on Thursday, December 19th. They now have a $4.20 price target on the stock, down previously from $4.50. Finally, analysts at UBS AG cut their price target on shares of Sirius XM Radio from $6.00 to $5.50 in a research note to investors on Monday, November 25th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Sirius XM Radio currently has a consensus rating of “Buy” and a consensus target price of $4.32.
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.
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