Sirius XM Holdings Inc. (NASDAQ:SIRI) Stock Rating Lowered by Zacks Investment Research
Sirius XM Holdings Inc. (NASDAQ:SIRI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, July 4th.
According to Zacks, “Sirius XM's high debt level raises concerns. Increased leverage coupled with stiff competition from rivals will act as headwinds for the company going forward. However, the company's healthy net subscriber growth is encouraging. The company ended the first quarter of 2017 with approximately 31.6 million subscribers. Sirius XM is expected to witness further growth in this respect in 2017. The company's efforts to expand its product portfolio also raise optimism. Warren Buffett's decision to raise his stake in the stock is also encouraging. We are also impressed by the company's efforts to reward shareholders. Shares of Sirius XM outperformed the Zacks-categorized Broadcasting- Radio-TV industry over the last one month.”
Several other equities analysts have also recently issued reports on the stock. Vetr raised shares of Sirius XM Holdings from a “hold” rating to a “buy” rating and set a $5.51 price objective on the stock in a research note on Tuesday, March 21st. Macquarie reiterated an “outperform” rating and issued a $5.85 target price on shares of Sirius XM Holdings in a report on Thursday, April 13th. Morgan Stanley cut shares of Sirius XM Holdings from an “equal weight” rating to an “underweight” rating and set a $4.80 target price for the company. in a report on Wednesday, April 19th. Barclays PLC reiterated an “underweight” rating and issued a $4.50 target price (down from $4.90) on shares of Sirius XM Holdings in a report on Monday, May 1st. Finally, Wunderlich cut shares of Sirius XM Holdings from a “buy” rating to a “hold” rating and raised their target price for the stock from $5.00 to $5.50 in a report on Thursday, March 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $5.56.
Shares of Sirius XM Holdings (SIRI) traded down 1.42% during mid-day trading on Tuesday, hitting $5.56. 18,920,206 shares of the company’s stock traded hands. The stock has a market cap of $25.65 billion, a P/E ratio of 32.71 and a beta of 1.11. Sirius XM Holdings has a 1-year low of $4.05 and a 1-year high of $5.89. The stock has a 50 day moving average price of $5.40 and a 200-day moving average price of $5.11.
Sirius XM Holdings (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Sirius XM Holdings had a net margin of 15.47% and a negative return on equity of 99.07%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS. Equities research analysts anticipate that Sirius XM Holdings will post $0.18 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of SIRI. Janney Montgomery Scott LLC boosted its stake in Sirius XM Holdings by 3.9% in the first quarter. Janney Montgomery Scott LLC now owns 71,552 shares of the company’s stock valued at $368,000 after buying an additional 2,664 shares in the last quarter. UBS Group AG boosted its stake in Sirius XM Holdings by 12.1% in the first quarter. UBS Group AG now owns 1,114,285 shares of the company’s stock valued at $5,739,000 after buying an additional 119,915 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Sirius XM Holdings by 220.0% in the first quarter. Daiwa Securities Group Inc. now owns 164,500 shares of the company’s stock valued at $847,000 after buying an additional 113,100 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Sirius XM Holdings by 14.5% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 4,545,321 shares of the company’s stock valued at $24,863,000 after buying an additional 577,179 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Sirius XM Holdings during the first quarter valued at $770,000. Institutional investors and hedge funds own 22.03% of the company’s stock.
About Sirius XM Holdings
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.
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