Research analysts at Buckingham Research started coverage on shares of Sirius XM (NASDAQ:SIRI) in a research report issued on Friday. The brokerage set a “buy” rating and a $6.50 price target on the stock. Buckingham Research’s price objective indicates a potential upside of 16.07% from the company’s previous close.
SIRI has been the topic of several other reports. Deutsche Bank upgraded Sirius XM from a “hold” rating to a “buy” rating and upped their price objective for the company from $5.25 to $6.50 in a research note on Friday. Gabelli upped their price objective on Sirius XM from $4.75 to $6.10 and gave the company a “buy” rating in a research note on Thursday, October 26th. BidaskClub lowered Sirius XM from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. Zacks Investment Research upgraded Sirius XM from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Thursday, November 2nd. Finally, JPMorgan Chase & Co. lowered Sirius XM from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $5.36 to $5.00 in a research note on Tuesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Sirius XM has an average rating of “Hold” and an average target price of $6.01.
Shares of Sirius XM (NASDAQ:SIRI) opened at $5.60 on Friday. Sirius XM has a 12 month low of $4.57 and a 12 month high of $5.89. The firm has a market capitalization of $25,736.59, a P/E ratio of 31.11, a PEG ratio of 1.32 and a beta of 1.12. The company has a quick ratio of 0.18, a current ratio of 0.19 and a debt-to-equity ratio of -6.41.
Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Wednesday, October 25th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. Sirius XM had a negative return on equity of 93.51% and a net margin of 16.71%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the company posted $0.04 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. sell-side analysts predict that Sirius XM will post 0.19 earnings per share for the current year.
In other Sirius XM news, CEO James E. Meyer sold 172,704 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $5.68, for a total transaction of $980,958.72. Following the transaction, the chief executive officer now owns 3,377,085 shares of the company’s stock, valued at approximately $19,181,842.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Patrick L. Donnelly sold 1,374,479 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $5.70, for a total value of $7,834,530.30. Following the transaction, the executive vice president now directly owns 227,430 shares in the company, valued at approximately $1,296,351. The disclosure for this sale can be found here. 1.06% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Sirius XM by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 78,433,991 shares of the company’s stock worth $429,035,000 after buying an additional 957,278 shares in the last quarter. FMR LLC lifted its holdings in Sirius XM by 3.8% during the 2nd quarter. FMR LLC now owns 43,576,316 shares of the company’s stock worth $238,362,000 after buying an additional 1,614,259 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Sirius XM by 119.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 34,373,843 shares of the company’s stock worth $188,025,000 after buying an additional 18,694,885 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in Sirius XM by 4.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 13,785,317 shares of the company’s stock worth $75,819,000 after buying an additional 526,766 shares in the last quarter. Finally, APG Asset Management N.V. lifted its holdings in Sirius XM by 23.8% during the 3rd quarter. APG Asset Management N.V. now owns 11,186,062 shares of the company’s stock worth $61,747,000 after buying an additional 2,147,800 shares in the last quarter. 19.64% of the stock is currently owned by hedge funds and other institutional investors.
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Sirius XM 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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