Sirius XM Holdings Inc. (SIRI) Upgraded at Zacks Investment Research
Sirius XM Holdings Inc. (NASDAQ:SIRI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, July 12th.
According to Zacks, “Shares of Sirius XM outperformed the Zacks-categorized Broadcasting- Radio-TV industry over the last one month. Sirius XM's healthy net subscriber growth is encouraging. This is expected to drive second quarter results on Jul 26. 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. However, the company's high debt level raises concerns. Increased leverage coupled with stiff competition from rivals will act as headwinds for the company going forward.”
SIRI has been the topic of a number of other research reports. Barclays PLC set a $5.00 price target on shares of Sirius XM Holdings and gave the stock a “hold” rating in a research note on Sunday, April 30th. Vetr raised shares of Sirius XM Holdings from a “sell” rating to a “hold” rating and set a $5.18 price target on the stock in a research note on Tuesday, June 6th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $5.50 price target on shares of Sirius XM Holdings in a research note on Friday, June 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $5.73.
Shares of Sirius XM Holdings (SIRI) opened at 5.60 on Wednesday. The stock’s 50 day moving average is $5.40 and its 200 day moving average is $5.11. The stock has a market cap of $25.83 billion, a price-to-earnings ratio of 32.94 and a beta of 1.11. Sirius XM Holdings has a 52-week low of $4.05 and a 52-week high of $5.89.
Sirius XM Holdings (NASDAQ:SIRI) last announced its earnings results on Thursday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.04. Sirius XM Holdings had a net margin of 15.47% and a negative return on equity of 99.07%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned $0.04 earnings per share. Sirius XM Holdings’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts expect that Sirius XM Holdings will post $0.18 earnings per share for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in the company. Concorde Asset Management LLC purchased a new stake in Sirius XM Holdings during the first quarter valued at about $128,000. State of Alaska Department of Revenue purchased a new stake in Sirius XM Holdings during the first quarter valued at about $544,000. Nisa Investment Advisors LLC increased its stake in Sirius XM Holdings by 18.1% in the first quarter. Nisa Investment Advisors LLC now owns 232,026 shares of the company’s stock valued at $1,195,000 after buying an additional 35,572 shares during the period. DnB Asset Management AS increased its stake in Sirius XM Holdings by 10.1% in the first quarter. DnB Asset Management AS now owns 198,715 shares of the company’s stock valued at $1,023,000 after buying an additional 18,300 shares during the period. Finally, Atria Investments LLC increased its stake in Sirius XM Holdings by 26.0% in the first quarter. Atria Investments LLC now owns 66,208 shares of the company’s stock valued at $341,000 after buying an additional 13,666 shares during the period. 22.30% of the stock is currently owned by hedge funds and other institutional investors.
Sirius XM Holdings 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.
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