Sirius XM (SIRI) Cut to Market Perform at Barrington Research

Sirius XM (NASDAQ:SIRI) was downgraded by stock analysts at Barrington Research from an “outperform” rating to a “market perform” rating in a report released on Tuesday.

Other analysts have also recently issued reports about the company. B. Riley restated a “buy” rating on shares of Sirius XM in a report on Wednesday, November 1st. JPMorgan Chase & Co. cut Sirius XM from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $5.36 to $5.00 in a report on Tuesday. Pivotal Research restated a “buy” rating and issued a $6.80 target price (up from $6.25) on shares of Sirius XM in a report on Wednesday, October 25th. Zacks Investment Research upgraded Sirius XM from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a report on Thursday, November 2nd. Finally, Royal Bank of Canada restated a “hold” rating and issued a $6.00 target price on shares of Sirius XM in a report on Wednesday, October 18th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $5.94.

Shares of Sirius XM (NASDAQ SIRI) traded down $0.17 during trading hours on Tuesday, reaching $5.20. The company’s stock had a trading volume of 24,468,392 shares, compared to its average volume of 21,535,848. The company has a current ratio of 0.19, a quick ratio of 0.18 and a debt-to-equity ratio of -6.41. The stock has a market cap of $24,633.60, a PE ratio of 28.86, a P/E/G ratio of 1.72 and a beta of 1.12. Sirius XM has a 12 month low of $4.40 and a 12 month high of $5.89.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Wednesday, October 25th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Sirius XM had a negative return on equity of 93.51% and a net margin of 16.71%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 EPS. analysts predict that Sirius XM will post 0.19 EPS for the current year.

In related news, EVP Patrick L. Donnelly sold 1,374,479 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $5.70, for a total transaction of $7,834,530.30. Following the completion of the transaction, the executive vice president now directly owns 227,430 shares in the company, valued at approximately $1,296,351. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James E. Meyer sold 172,704 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $5.68, for a total value of $980,958.72. Following the transaction, the chief executive officer now owns 3,377,085 shares of the company’s stock, valued at $19,181,842.80. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new position in Sirius XM during the 3rd quarter valued at about $330,000. California Public Employees Retirement System boosted its holdings in Sirius XM by 9.6% during the 3rd quarter. California Public Employees Retirement System now owns 4,167,432 shares of the company’s stock valued at $23,004,000 after acquiring an additional 365,532 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Sirius XM by 19.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 71,241 shares of the company’s stock valued at $393,000 after acquiring an additional 11,726 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Sirius XM by 6.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 178,472 shares of the company’s stock valued at $987,000 after acquiring an additional 11,077 shares during the period. Finally, Kalos Management Inc. purchased a new position in Sirius XM during the 3rd quarter valued at about $114,000. Institutional investors own 19.57% of the company’s stock.

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Sirius XM 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 (NASDAQ:SIRI)