BidaskClub lowered shares of Sirius XM (NASDAQ:SIRI) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning.
Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Sirius XM from a hold rating to a buy rating and set a $7.00 price objective on the stock in a research note on Wednesday, March 28th. Barclays increased their price objective on shares of Sirius XM from $4.50 to $5.00 and gave the stock an equal weight rating in a research note on Thursday, February 1st. Deutsche Bank upgraded shares of Sirius XM from a hold rating to a buy rating and increased their price objective for the stock from $5.25 to $6.50 in a research note on Friday, January 19th. JPMorgan Chase cut shares of Sirius XM from a neutral rating to an underweight rating and lowered their price objective for the stock from $5.36 to $5.00 in a research note on Tuesday, January 2nd. Finally, Buckingham Research increased their price objective on shares of Sirius XM from $6.50 to $7.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $6.21.
SIRI opened at $6.25 on Tuesday. The company has a current ratio of 0.17, a quick ratio of 0.16 and a debt-to-equity ratio of -4.42. The stock has a market cap of $27,804.64, a price-to-earnings ratio of 31.25, a P/E/G ratio of 1.74 and a beta of 1.11. Sirius XM has a 52-week low of $4.73 and a 52-week high of $6.62.
Sirius XM (NASDAQ:SIRI) last posted its earnings results on Wednesday, January 31st. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Sirius XM had a net margin of 11.94% and a negative return on equity of 79.79%. analysts expect that Sirius XM will post 0.24 EPS for the current year.
Sirius XM announced that its board has approved a share repurchase program on Tuesday, January 23rd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
In other Sirius XM news, Director Joan Lordi Amble sold 73,961 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $6.50, for a total transaction of $480,746.50. Following the sale, the director now owns 101,174 shares in the company, valued at approximately $657,631. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas D. Barry sold 175,777 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $6.11, for a total transaction of $1,073,997.47. Following the sale, the vice president now owns 551,815 shares in the company, valued at approximately $3,371,589.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,113,308 shares of company stock worth $6,822,521. 1.06% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIRI. Ameriprise Financial Inc. raised its stake in Sirius XM by 10.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 227,119 shares of the company’s stock worth $1,254,000 after acquiring an additional 21,440 shares during the period. Wells Fargo & Company MN raised its stake in Sirius XM by 1.7% during the 3rd quarter. Wells Fargo & Company MN now owns 3,232,585 shares of the company’s stock worth $17,844,000 after acquiring an additional 52,900 shares during the period. Stifel Financial Corp raised its stake in Sirius XM by 10.2% during the 3rd quarter. Stifel Financial Corp now owns 108,206 shares of the company’s stock worth $604,000 after acquiring an additional 9,997 shares during the period. Cornerstone Capital Management Holdings LLC. bought a new stake in Sirius XM during the 3rd quarter worth approximately $1,103,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in Sirius XM by 6.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 178,472 shares of the company’s stock valued at $987,000 after buying an additional 11,077 shares in the last quarter. Institutional investors own 19.96% of the company’s stock.
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About Sirius XM
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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