Sirius XM Holdings Inc. (NASDAQ:SIRI)‘s stock had its “buy” rating reaffirmed by equities researchers at Macquarie in a note issued to investors on Thursday. They presently have a $6.00 price target on the stock. Macquarie’s target price indicates a potential upside of 11.32% from the company’s previous close.

The analysts wrote, “We remain firm that Sirius XM can navigate declining auto sales and higher capex/cash taxes in the future. Importantly, it’s embracing the connected car with 360L/Automatic Labs and now with a stake in Pandora has an ‘in’ with digital/mobile platforms. We inch our numbers up including sub metrics and buyback assumptions, which drives our target higher to US$6 from US$5.65 based on 14.5x our ’19E FCF/sh, discounted. Impact Net adds, churn, and ARPU impressed: 1) We raise our already-above-guidance self-pay net adds in ‘17 to ~1.5m from ~1.4m, which reflects an improved outlook for 1.4m from 1.3m. This assumes ’17/’18 SAAR of 17.2m/16.9m per our Auto Analyst T. Katayama relative to management’s view of sales landing in the 16.5m-17m range; 2) 1.7% churn was impressive as customer satisfaction offset vehicle-related churn. We model conservative churn of ~2% for ’17/’18 in line with commentary but expect upside to this metric; and 3) ARPU rose ~3%, beating our expectations; we model 3Q/’17 ARPU of US$13.28/US$13.21, which is up 1.8%/2.3% YoY. 38.7% margin was healthy, in spite of the below investments. We are modeling EBITDA margins of 38.3%/38.7% for ‘17/’18 and EBITDA of US$2.06bn vs guidance of US$2.05bn in ‘17. We model slightly elevated R&D/marketing investments for 360L, but expect this to be offset by the remaining cost buckets and a levelling off of programming. We also remain optimistic on the CRB decision that will come mid- Dec; we model a 100bps bump in the ’18 royalty rate.””

SIRI has been the subject of a number of other reports. Vetr cut shares of Sirius XM Holdings from a “buy” rating to a “hold” rating and set a $5.37 target price for the company. in a report on Tuesday, April 25th. Zacks Investment Research raised shares of Sirius XM Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Morgan Stanley cut shares of Sirius XM Holdings from an “equal weight” rating to an “underweight” rating and set a $4.80 target price for the company. in a report on Wednesday, April 19th. BidaskClub raised shares of Sirius XM Holdings from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $5.50 target price on shares of Sirius XM Holdings in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $5.26.

Sirius XM Holdings (NASDAQ SIRI) traded up 7.42% during midday trading on Thursday, hitting $5.79. The stock had a trading volume of 50,630,452 shares. The stock has a 50 day moving average of $5.34 and a 200 day moving average of $5.08. The stock has a market cap of $27.01 billion, a price-to-earnings ratio of 36.19 and a beta of 1.11. Sirius XM Holdings has a 12 month low of $4.05 and a 12 month high of $5.89. Sirius XM Holdings also was the recipient of unusually large options trading activity on Monday. Traders purchased 38,151 put options on the stock. This is an increase of 1,646% compared to the typical volume of 2,185 put options.

Sirius XM Holdings (NASDAQ:SIRI) last issued its earnings results on Thursday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.04. Sirius XM Holdings had a net margin of 15.24% and a negative return on equity of 104.00%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the company posted $0.04 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. Analysts expect that Sirius XM Holdings will post $0.18 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This piece of content was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of international trademark & copyright legislation. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/07/27/sirius-xm-holdings-inc-siri-stock-rating-reaffirmed-by-macquarie.html.

A number of hedge funds have recently made changes to their positions in SIRI. Capstone Asset Management Co. raised its stake in shares of Sirius XM Holdings by 0.3% in the second quarter. Capstone Asset Management Co. now owns 65,346 shares of the company’s stock worth $357,000 after buying an additional 170 shares during the period. Miracle Mile Advisors LLC raised its stake in shares of Sirius XM Holdings by 1.5% in the first quarter. Miracle Mile Advisors LLC now owns 19,880 shares of the company’s stock worth $102,000 after buying an additional 300 shares during the period. Investment Centers of America Inc. raised its stake in shares of Sirius XM Holdings by 0.9% in the first quarter. Investment Centers of America Inc. now owns 49,651 shares of the company’s stock worth $256,000 after buying an additional 423 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in shares of Sirius XM Holdings by 1.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 28,866 shares of the company’s stock worth $149,000 after buying an additional 493 shares during the period. Finally, Blair William & Co. IL raised its stake in shares of Sirius XM Holdings by 1.5% in the first quarter. Blair William & Co. IL now owns 38,211 shares of the company’s stock worth $195,000 after buying an additional 551 shares during the period. Hedge funds and other institutional investors own 22.15% of the company’s stock.

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.

Analyst Recommendations for Sirius XM Holdings (NASDAQ:SIRI)

Receive News & Ratings for Sirius XM Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sirius XM Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.