Sirius XM Holdings Inc. (NASDAQ:SIRI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, November 1st.
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. However, high costs hurt the company's bottom line in third quarter. Quarterly total operating expenses increased 6.8% year over year. The slowdown in auto sales is also a concern. The company's high debt levels also raise concerns. Increased leverage coupled with stiff competition from rivals may act as headwinds for the company going forward.”
Several other equities analysts have also recently commented on SIRI. Vetr raised Sirius XM Holdings from a “buy” rating to a “strong-buy” rating and set a $6.06 price target for the company in a report on Monday, July 10th. Macquarie restated a “buy” rating and set a $6.00 price target (up from $5.65) on shares of Sirius XM Holdings in a research report on Thursday, July 27th. Piper Jaffray Companies set a $7.00 price target on Sirius XM Holdings and gave the stock a “buy” rating in a research report on Thursday, July 27th. BidaskClub downgraded Sirius XM Holdings from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Finally, Pivotal Research reaffirmed a “buy” rating and set a $6.25 price objective on shares of Sirius XM Holdings in a research note on Sunday, July 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Sirius XM Holdings presently has a consensus rating of “Buy” and an average price target of $6.01.
Shares of Sirius XM Holdings (NASDAQ:SIRI) opened at $5.34 on Wednesday. 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 $24,541.68, a price-to-earnings ratio of 29.67, a PEG ratio of 1.72 and a beta of 1.13. Sirius XM Holdings has a 12 month low of $4.22 and a 12 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Sirius XM Holdings had a negative return on equity of 93.51% and a net margin of 16.71%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company posted $0.04 earnings per share. Sirius XM Holdings’s revenue for the quarter was up 8.0% compared to the same quarter last year. research analysts forecast that Sirius XM Holdings will post 0.19 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. lifted its stake in 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 purchasing an additional 15,200 shares in the last quarter. Pitcairn Co. raised its position in shares of Sirius XM Holdings by 1.3% during 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 in the last quarter. Colony Group LLC purchased a new stake in shares of Sirius XM Holdings during the 2nd quarter valued at $102,000. Toronto Dominion Bank raised its position in shares of Sirius XM Holdings by 9.7% during 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 in the last quarter. Finally, Advisor Partners LLC raised its position in shares of Sirius XM Holdings by 103.7% during 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 in the last quarter. Institutional investors and hedge funds 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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