Zacks Investment Research upgraded shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) from a hold rating to a buy rating in a report issued on Thursday morning. Zacks Investment Research currently has $6.00 target price 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. The company anticipates 1.4 million net new subscriber addition in 2017. In fact, the company’s decision to raise its full-year 2017 guidance for revenue, adjusted EBITDA and free cash flow is impressive. It expects revenues of approximately $5.4 billion in 2017, slightly higher than its previous expectation of $5.37 billion. Adjusted EBITDA guidance is expected to be around $2.1 billion (previous guidance: $2.05 billion). Free cash flow is expected to be approximately $1.54 billion (previous outlook: $1.5 billion). However, high costs hurt the company's bottom line in third-quarter. Its high debt levels are also concerning.”

SIRI has been the subject of a number of other research reports. 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. Gabelli raised their price objective on shares of Sirius XM Holdings from $4.75 to $6.10 and gave the company a buy rating in a research report on Thursday, October 26th. Vetr upgraded shares of Sirius XM Holdings from a buy rating to a strong-buy rating and set a $6.06 price objective for the company in a research report on Monday, July 24th. Royal Bank Of Canada assumed coverage on shares of Sirius XM Holdings in a research report on Friday, September 15th. They issued a sector perform rating and a $6.00 price objective for the company. Finally, BidaskClub upgraded shares of Sirius XM Holdings from a buy rating to a strong-buy rating in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of Buy and an average price target of $6.01.

Sirius XM Holdings (NASDAQ SIRI) traded down $0.04 during midday trading on Thursday, hitting $5.30. The company had a trading volume of 16,707,431 shares, compared to its average volume of 15,965,344. The company has a debt-to-equity ratio of -6.41, a quick ratio of 0.18 and a current ratio of 0.19. Sirius XM Holdings has a 52-week low of $4.11 and a 52-week high of $5.89. The stock has a market capitalization of $24,357.85, a price-to-earnings ratio of 29.44, a P/E/G ratio of 1.71 and a beta of 1.13.

Sirius XM Holdings (NASDAQ:SIRI) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the company posted $0.04 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. equities analysts forecast that Sirius XM Holdings will post 0.19 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 9th will be given a dividend of $0.011 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.83%. This is an increase from Sirius XM Holdings’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Wednesday, November 8th. Sirius XM Holdings’s dividend payout ratio (DPR) is presently 22.22%.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Sirius XM Holdings by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 78,433,991 shares of the company’s stock valued at $429,035,000 after acquiring an additional 957,278 shares during the period. FMR LLC raised its position in shares of Sirius XM Holdings 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 purchasing an additional 1,614,259 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Sirius XM Holdings 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 purchasing an additional 18,694,885 shares during the last quarter. Eagle Asset Management Inc. raised its position in shares of Sirius XM Holdings by 22.5% during the 2nd quarter. Eagle Asset Management Inc. now owns 13,258,551 shares of the company’s stock worth $72,524,000 after purchasing an additional 2,436,197 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in shares of Sirius XM Holdings 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 purchasing an additional 2,147,800 shares during the last quarter. Institutional investors own 20.38% 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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Analyst Recommendations for Sirius XM Holdings (NASDAQ:SIRI)

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