Sirius XM Holdings Inc. (SIRI) Lifted to “Buy” at Zacks Investment Research
Sirius XM Holdings Inc. (NASDAQ:SIRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $6.00 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.29% from the company’s previous close.
According to Zacks, “Shares of Sirius XM have outperformed its industry so far this year. Ushering in further good news, the company reported better-than-expected earnings per share and revenues in the third quarter of 2017. Both metrics also improved on a year-over-year basis. Additionally, healthy net subscriber growth is a positive. The company anticipates 1.4 million net new subscriber addition in 2017. In fact, the company’s decision to raise its full-year 2017 guidance for revenue, adjusted EBITDA and free cash flow is impressive. It expects revenues of approximately $5.4 billion in 2017, slightly higher than its previous expectation of $5.37 billion. Adjusted EBITDA guidance is expected to be around $2.1 billion (previous guidance: $2.05 billion). Free cash flow is expected to be approximately $1.54 billion (previous outlook: $1.5 billion). However, high costs hurt the company's bottom line in third-quarter. Its high debt levels are also concerning.”
Other equities analysts also recently issued reports about the stock. Vetr downgraded shares of Sirius XM Holdings from a “strong-buy” rating to a “hold” rating and set a $6.06 price objective on the stock. in a report on Monday, July 31st. Macquarie reiterated a “buy” rating and issued a $6.00 price objective (up from $5.65) on shares of Sirius XM Holdings in a report on Thursday, July 27th. Pivotal Research reiterated a “buy” rating and issued a $6.80 price objective (up from $6.25) on shares of Sirius XM Holdings in a report on Wednesday, October 25th. Royal Bank Of Canada reiterated a “hold” rating and issued a $6.00 price objective on shares of Sirius XM Holdings in a report on Wednesday, October 18th. Finally, BidaskClub upgraded shares of Sirius XM Holdings from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $6.01.
Sirius XM Holdings (NASDAQ:SIRI) last released its quarterly earnings data on Wednesday, October 25th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Sirius XM Holdings had a net margin of 16.71% and a negative return on equity of 93.51%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the company earned $0.04 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis.
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A number of institutional investors have recently made changes to their positions in SIRI. Rehmann Capital Advisory Group grew its stake in Sirius XM Holdings by 97.5% during the first quarter. Rehmann Capital Advisory Group now owns 25,222 shares of the company’s stock worth $100,000 after buying an additional 12,452 shares in the last quarter. Biegel & Waller LLC acquired a new stake in Sirius XM Holdings during the fourth quarter worth about $101,000. Macquarie Group Ltd. grew its stake in Sirius XM Holdings by 476.2% during the second quarter. Macquarie Group Ltd. now owns 18,392 shares of the company’s stock worth $101,000 after buying an additional 15,200 shares in the last quarter. Howard Hughes Medical Institute acquired a new stake in Sirius XM Holdings during the second quarter worth about $102,000. Finally, Miracle Mile Advisors LLC grew its stake in Sirius XM Holdings by 1.5% during 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 in the last quarter. Hedge funds and other institutional investors own 20.38% 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.
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