Analysts’ Recent Ratings Updates for Sirius XM (SIRI)

Sirius XM (NASDAQ: SIRI) recently received a number of ratings updates from brokerages and research firms:

  • 6/29/2018 – Sirius XM was upgraded by analysts at Barrington Research from a “market perform” rating to an “outperform” rating. They now have a $8.00 price target on the stock. They wrote, “We had maintained our top rating on SIRI for many years through the start of 2018. Since the collapse of its stock price in 2009 and its flirtation with bankruptcy following a financial crisis of its own as it attempted to refinance some debt following the merger of XM and Sirius that created the combined enterprise, the stock has traded relentlessly higher with only relatively brief periods of pause or decline. Increasing valuation metrics and a surprisingly burdensome royalty ruling around the turn of the current year caused us to feel a leveling in the stock price trend was likely. We moved our rating to MARKET PERFORM at that time, expecting more of a pause than an extended decline as management grappled with the surprising royalty issue.””
  • 6/28/2018 – Sirius XM had its “buy” rating reaffirmed by analysts at Macquarie. They now have a $7.75 price target on the stock.
  • 6/26/2018 – Sirius XM was downgraded by analysts at Barclays PLC from an “equal weight” rating to an “underweight” rating. They now have a $5.00 price target on the stock.
  • 6/21/2018 – Sirius XM was downgraded by analysts at Goldman Sachs Group Inc from a “neutral” rating to a “sell” rating. They now have a $6.00 price target on the stock.
  • 6/19/2018 – Sirius XM was downgraded by analysts at Pivotal Research from a “buy” rating to a “hold” rating. They now have a $7.75 price target on the stock.
  • 6/16/2018 – Sirius XM was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 6/14/2018 – Sirius XM had its price target raised by analysts at Bank of America Corp from $7.00 to $8.00. They now have a “buy” rating on the stock.
  • 6/6/2018 – Sirius XM was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 6/6/2018 – Sirius XM had its “buy” rating reaffirmed by analysts at Macquarie. They now have a $7.75 price target on the stock.
  • 5/22/2018 – Sirius XM had its price target raised by analysts at Pivotal Research from $7.05 to $7.75. They now have a “buy” rating on the stock.

NASDAQ:SIRI opened at $7.04 on Tuesday. The company has a market cap of $31.44 billion, a PE ratio of 35.20, a P/E/G ratio of 1.90 and a beta of 1.11. Sirius XM Holdings Inc has a fifty-two week low of $5.17 and a fifty-two week high of $7.70. The company has a quick ratio of 0.17, a current ratio of 0.18 and a debt-to-equity ratio of -4.35.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Wednesday, April 25th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Sirius XM had a negative return on equity of 76.24% and a net margin of 13.26%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. sell-side analysts anticipate that Sirius XM Holdings Inc will post 0.25 earnings per share for the current year.

In related news, EVP Dara F. Altman sold 387,696 shares of the firm’s stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $7.49, for a total value of $2,903,843.04. Following the completion of the sale, the executive vice president now owns 2,010,556 shares of the company’s stock, valued at $15,059,064.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joan Lordi Amble sold 34,565 shares of the firm’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $7.25, for a total value of $250,596.25. Following the completion of the sale, the director now directly owns 70,404 shares of the company’s stock, valued at approximately $510,429. The disclosure for this sale can be found here. Insiders sold 2,424,320 shares of company stock valued at $16,542,720 in the last ninety days. 0.76% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in SIRI. Ladenburg Thalmann Financial Services Inc. lifted its position in Sirius XM by 5.0% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 187,349 shares of the company’s stock valued at $1,002,000 after buying an additional 8,877 shares during the period. Profund Advisors LLC lifted its position in Sirius XM by 3.4% during the first quarter. Profund Advisors LLC now owns 281,674 shares of the company’s stock valued at $1,758,000 after buying an additional 9,263 shares during the period. Koch Industries Inc. lifted its position in Sirius XM by 31.1% during the fourth quarter. Koch Industries Inc. now owns 41,264 shares of the company’s stock valued at $221,000 after buying an additional 9,789 shares during the period. Moors & Cabot Inc. lifted its position in Sirius XM by 31.9% during the first quarter. Moors & Cabot Inc. now owns 42,013 shares of the company’s stock valued at $262,000 after buying an additional 10,152 shares during the period. Finally, California Public Employees Retirement System lifted its position in Sirius XM by 0.3% during the first quarter. California Public Employees Retirement System now owns 4,153,636 shares of the company’s stock valued at $25,919,000 after buying an additional 10,403 shares during the period. 18.67% of the stock is owned by institutional investors.

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.

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