BidaskClub Downgrades Sirius XM Holdings Inc. (NASDAQ:SIRI) to Buy
BidaskClub downgraded shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) from a strong-buy rating to a buy rating in a research report released on Friday.
Several other equities research analysts have also commented on SIRI. Vetr lowered Sirius XM Holdings from a strong-buy rating to a buy rating and set a $6.06 price objective on the stock. in a research report on Monday, July 17th. Barclays PLC set a $5.00 price objective on Sirius XM Holdings and gave the stock a hold rating in a research report on Sunday, April 30th. Macquarie restated a buy rating and issued a $6.00 price objective (up previously from $5.65) on shares of Sirius XM Holdings in a research report on Thursday, July 27th. Zacks Investment Research upgraded Sirius XM Holdings from a sell rating to a hold rating in a research report on Wednesday, July 12th. Finally, Bank of America Corp reiterated a buy rating and set a $5.50 target price on shares of Sirius XM Holdings in a research report on Friday, June 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $5.56.
Sirius XM Holdings (SIRI) opened at 5.86 on Friday. The company has a 50 day moving average of $5.39 and a 200-day moving average of $5.11. The stock has a market cap of $27.03 billion, a P/E ratio of 34.47 and a beta of 1.11. Sirius XM Holdings has a 12-month low of $4.05 and a 12-month high of $5.89.
Sirius XM Holdings (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.04 earnings per share for the quarter, hitting the Thomson Reuters’ 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 company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company earned $0.04 EPS. Sirius XM Holdings’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts forecast that Sirius XM Holdings will post $0.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 10th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, August 8th. Sirius XM Holdings’s payout ratio is presently 25.00%.
A number of large investors have recently bought and sold shares of the company. Miracle Mile Advisors LLC boosted its stake in shares of Sirius XM Holdings by 1.5% in the first quarter. Miracle Mile Advisors LLC now owns 19,880 shares of the company’s stock valued at $102,000 after buying an additional 300 shares in the last quarter. Altfest L J & Co. Inc. purchased a new position in Sirius XM Holdings during the first quarter worth $105,000. Greenwich Wealth Management LLC purchased a new position in Sirius XM Holdings during the first quarter worth $108,000. Concorde Asset Management LLC purchased a new position in Sirius XM Holdings during the first quarter worth $128,000. Finally, TrimTabs Asset Management LLC boosted its position in Sirius XM Holdings by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 25,348 shares of the company’s stock worth $131,000 after buying an additional 11,928 shares during the period. Hedge funds and other institutional investors own 22.03% of the company’s stock.
About Sirius XM Holdings
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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