Sirius XM (SIRI) Lowered to “Underweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Sirius XM (NASDAQ:SIRI) from a neutral rating to an underweight rating in a report issued on Tuesday. The brokerage currently has $5.00 target price on the stock, down from their prior target price of $5.36.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Sirius XM from a hold rating to a buy rating and set a $6.00 price objective on the stock in a report on Thursday, November 2nd. B. Riley reaffirmed a buy rating on shares of Sirius XM in a report on Wednesday, November 1st. Bank of America set a $7.00 price objective on shares of Sirius XM and gave the company a buy rating in a report on Thursday, October 12th. Piper Jaffray Companies set a $7.00 price objective on shares of Sirius XM and gave the company a buy rating in a report on Wednesday, October 11th. Finally, Gabelli increased their price objective on shares of Sirius XM from $4.75 to $6.10 and gave the company a buy rating in a report on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Sirius XM presently has a consensus rating of Hold and a consensus price target of $5.94.

Shares of Sirius XM (NASDAQ SIRI) remained flat at $$5.21 during midday trading on Tuesday. The company’s stock had a trading volume of 28,960,000 shares, compared to its average volume of 19,420,000. Sirius XM has a 52-week low of $4.40 and a 52-week high of $5.89. The stock has a market capitalization of $23,940.00, a PE ratio of 28.94, a P/E/G ratio of 1.59 and a beta of 1.12. The company has a debt-to-equity ratio of -6.41, a current ratio of 0.19 and a quick ratio of 0.18.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data 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 business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. Sirius XM had a net margin of 16.71% and a negative return on equity of 93.51%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $0.04 earnings per share. analysts forecast that Sirius XM will post 0.19 EPS for the current year.

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

Several large investors have recently bought and sold shares of the company. Scotia Capital Inc. increased its position in Sirius XM by 0.8% during the second quarter. Scotia Capital Inc. now owns 25,494 shares of the company’s stock worth $139,000 after purchasing an additional 206 shares during the last quarter. GM Advisory Group Inc. increased its position in Sirius XM by 0.9% during the second quarter. GM Advisory Group Inc. now owns 33,185 shares of the company’s stock worth $182,000 after purchasing an additional 290 shares during the last quarter. Toronto Dominion Bank increased its position in Sirius XM by 9.7% during the second quarter. Toronto Dominion Bank now owns 20,278 shares of the company’s stock worth $111,000 after purchasing an additional 1,799 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Sirius XM by 1.6% during the second quarter. PNC Financial Services Group Inc. now owns 113,475 shares of the company’s stock worth $621,000 after purchasing an additional 1,828 shares during the last quarter. Finally, Blair William & Co. IL increased its position in Sirius XM by 5.9% during the second quarter. Blair William & Co. IL now owns 40,453 shares of the company’s stock worth $221,000 after purchasing an additional 2,242 shares during the last quarter. 19.57% of the stock is currently owned by hedge funds and other institutional investors.

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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)

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