Zacks Investment Research upgraded shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) from a sell rating to a buy rating in a research note released on Friday, October 27th. The brokerage currently has $6.25 price objective on the stock.
According to Zacks, “Shares of Sirius XM have outperformed its industry so far this year. Ushering in further good news, the company reported better-than-expected earnings per share and revenues in the third quarter of 2017. Both metrics also improved on a year-over-year basis. Additionally, healthy net subscriber growth is a positive. In fact, the company’s decision to raise its full-year 2017 guidance for revenue, adjusted EBITDA and free cash flow is impressive. Furthermore, Sirius XM’s decision to reward shareholders through dividends and buybacks remain encouraging. We, however, are concerned about the company's high operating expenses in the near term.”
A number of other analysts have also recently commented on the stock. Piper Jaffray Companies set a $7.00 price target on shares of Sirius XM Holdings and gave the company a buy rating in a research report on Thursday, July 27th. Bank of America Corporation set a $7.00 price target on shares of Sirius XM Holdings and gave the company a buy rating in a research report on Thursday, October 12th. Royal Bank of Canada assumed coverage on shares of Sirius XM Holdings in a report on Friday, September 15th. They set a sector perform rating and a $6.00 price objective on the stock. Macquarie reiterated a buy rating and set a $6.00 price objective (up previously from $5.65) on shares of Sirius XM Holdings in a report on Thursday, July 27th. Finally, Pivotal Research reiterated a buy rating and set a $6.80 price objective (up previously from $6.25) on shares of Sirius XM Holdings in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $6.01.
Shares of Sirius XM Holdings (NASDAQ SIRI) traded up $0.03 on Friday, reaching $5.34. 18,671,500 shares of the company’s stock were exchanged, compared to its average volume of 21,896,361. The company has a quick ratio of 0.18, a current ratio of 0.19 and a debt-to-equity ratio of -6.41. The company has a market capitalization of $24,403.80, a PE ratio of 29.50, a P/E/G ratio of 1.71 and a beta of 1.13. Sirius XM Holdings has a twelve month low of $4.22 and a twelve month high of $5.89.
Sirius XM Holdings (NASDAQ:SIRI) last issued its quarterly earnings results on Wednesday, October 25th. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Sirius XM Holdings had a net margin of 16.71% and a negative return on equity of 93.51%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 earnings per share. research analysts forecast that Sirius XM Holdings will post 0.19 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 9th will be issued a $0.011 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Wednesday, November 8th. This is a positive change from Sirius XM Holdings’s previous quarterly dividend of $0.01. Sirius XM Holdings’s dividend payout ratio is currently 22.22%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. raised its holdings in shares of Sirius XM Holdings by 476.2% in the 2nd quarter. Macquarie Group Ltd. now owns 18,392 shares of the company’s stock worth $101,000 after acquiring an additional 15,200 shares during the last quarter. Colony Group LLC purchased a new stake in Sirius XM Holdings in the 2nd quarter valued at about $102,000. Pitcairn Co. increased its stake in Sirius XM Holdings by 1.3% in the 2nd quarter. Pitcairn Co. now owns 18,708 shares of the company’s stock valued at $102,000 after buying an additional 237 shares during the last quarter. Toronto Dominion Bank increased its stake in Sirius XM Holdings by 9.7% in the 2nd quarter. Toronto Dominion Bank now owns 20,278 shares of the company’s stock valued at $111,000 after buying an additional 1,799 shares during the last quarter. Finally, Advisor Partners LLC increased its stake in Sirius XM Holdings by 103.7% in the 2nd quarter. Advisor Partners LLC now owns 23,449 shares of the company’s stock valued at $128,000 after buying an additional 11,938 shares during the last quarter. Institutional investors own 20.42% of the company’s stock.
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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