Sirius XM (SIRI) Upgraded by BidaskClub to “Buy”

Sirius XM (NASDAQ:SIRI) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Thursday.

Several other brokerages also recently issued reports on SIRI. Pivotal Research downgraded Sirius XM from a “buy” rating to a “hold” rating and set a $7.75 price objective for the company. in a research report on Tuesday, June 19th. Goldman Sachs Group downgraded Sirius XM from a “neutral” rating to a “sell” rating and set a $6.00 price objective for the company. in a research report on Thursday, June 21st. Bank of America lifted their price objective on Sirius XM from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, June 14th. Macquarie reiterated a “buy” rating and issued a $7.75 price objective on shares of Sirius XM in a research report on Wednesday, June 6th. Finally, Barclays downgraded Sirius XM from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research report on Tuesday, June 26th. Four analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Sirius XM has a consensus rating of “Hold” and an average target price of $6.78.

Shares of SIRI opened at $7.13 on Thursday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of -4.70. Sirius XM has a 52-week low of $5.17 and a 52-week high of $7.70. The firm has a market capitalization of $31.98 billion, a price-to-earnings ratio of 35.65, a price-to-earnings-growth ratio of 1.90 and a beta of 1.03.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Wednesday, July 25th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. Sirius XM had a negative return on equity of 78.24% and a net margin of 14.68%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the company posted $0.04 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. equities research analysts forecast that Sirius XM will post 0.25 earnings per share for the current year.

In other news, EVP Stephen Cook sold 415,502 shares of the business’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $7.20, for a total transaction of $2,991,614.40. Following the completion of the sale, the executive vice president now owns 1,988,300 shares in the company, valued at $14,315,760. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Dara F. Altman sold 387,696 shares of the business’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 sale, the executive vice president now owns 2,010,556 shares of the company’s stock, valued at approximately $15,059,064.44. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Sirius XM by 5.7% during the second quarter. BlackRock Inc. now owns 78,163,054 shares of the company’s stock worth $529,167,000 after purchasing an additional 4,249,152 shares during the period. FMR LLC grew its stake in shares of Sirius XM by 8.8% during the second quarter. FMR LLC now owns 52,096,871 shares of the company’s stock worth $352,695,000 after purchasing an additional 4,200,422 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Sirius XM by 382.7% during the second quarter. Teacher Retirement System of Texas now owns 4,895,313 shares of the company’s stock worth $33,141,000 after purchasing an additional 3,881,157 shares during the period. Renaissance Technologies LLC grew its stake in shares of Sirius XM by 817.2% during the second quarter. Renaissance Technologies LLC now owns 4,110,000 shares of the company’s stock worth $27,825,000 after purchasing an additional 3,661,900 shares during the period. Finally, Morgan Stanley grew its stake in shares of Sirius XM by 135.6% during the second quarter. Morgan Stanley now owns 5,508,809 shares of the company’s stock worth $37,296,000 after purchasing an additional 3,170,709 shares during the period. Institutional investors own 18.51% of the company’s stock.

About Sirius XM

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.

Featured Article: Return on Investment (ROI) Defined, Explained

Analyst Recommendations for Sirius XM (NASDAQ:SIRI)

Receive News & Ratings for Sirius XM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sirius XM and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply