Stock analysts at Buckingham Research assumed coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage set a “buy” rating and a $6.50 price target on the stock. Buckingham Research’s price objective would indicate a potential upside of 16.07% from the company’s previous close.
A number of other equities analysts also recently commented on SIRI. B. Riley restated a “buy” rating on shares of Sirius XM in a research note on Wednesday, November 1st. BidaskClub downgraded Sirius XM from a “sell” rating to a “strong sell” rating in a research note on Thursday. Deutsche Bank upgraded Sirius XM from a “hold” rating to a “buy” rating and lifted their target price for the company from $5.25 to $6.50 in a research note on Friday. Barrington Research downgraded Sirius XM from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 2nd. Finally, Royal Bank of Canada set a $6.00 target price on Sirius XM and gave the company a “hold” rating in a research note on Thursday, January 11th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Sirius XM currently has an average rating of “Hold” and a consensus target price of $6.01.
Shares of Sirius XM (NASDAQ:SIRI) traded up $0.13 during trading on Friday, reaching $5.60. The company had a trading volume of 26,283,740 shares, compared to its average volume of 17,345,318. The company has a debt-to-equity ratio of -6.41, a quick ratio of 0.18 and a current ratio of 0.19. The company has a market capitalization of $25,139.13, a price-to-earnings ratio of 31.11, a P/E/G ratio of 1.29 and a beta of 1.12. Sirius XM has a 1 year low of $4.55 and a 1 year high of $5.89.
Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Sirius XM had a negative return on equity of 93.51% and a net margin of 16.71%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the company earned $0.04 earnings per share. Sirius XM’s quarterly revenue was up 8.0% on a year-over-year basis. equities analysts anticipate that Sirius XM will post 0.19 EPS for the current year.
In related news, CEO James E. Meyer sold 172,704 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $5.68, for a total transaction of $980,958.72. Following the sale, the chief executive officer now owns 3,377,085 shares of the company’s stock, valued at $19,181,842.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Patrick L. Donnelly sold 1,374,479 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $5.70, for a total value of $7,834,530.30. Following the sale, the executive vice president now directly owns 227,430 shares in the company, valued at approximately $1,296,351. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Sirius XM by 1.2% during the second quarter. Vanguard Group Inc. now owns 78,433,991 shares of the company’s stock worth $429,035,000 after purchasing an additional 957,278 shares in the last quarter. FMR LLC raised its holdings in Sirius XM by 3.8% during the second quarter. FMR LLC now owns 43,576,316 shares of the company’s stock worth $238,362,000 after purchasing an additional 1,614,259 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Sirius XM by 119.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 34,373,843 shares of the company’s stock worth $188,025,000 after purchasing an additional 18,694,885 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in Sirius XM by 4.0% during the third quarter. Eagle Asset Management Inc. now owns 13,785,317 shares of the company’s stock worth $75,819,000 after purchasing an additional 526,766 shares in the last quarter. Finally, APG Asset Management N.V. raised its holdings in Sirius XM by 23.8% during the third quarter. APG Asset Management N.V. now owns 11,186,062 shares of the company’s stock worth $61,747,000 after purchasing an additional 2,147,800 shares in the last quarter. 19.64% of the stock is currently owned by hedge funds and other institutional investors.
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About Sirius XM
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.