Sirius XM (SIRI) Rating Lowered to Market Perform at Barrington Research
Sirius XM (NASDAQ:SIRI) was downgraded by Barrington Research from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday.
Several other analysts also recently weighed in on SIRI. B. Riley restated a “buy” rating on shares of Sirius XM in a report on Wednesday, November 1st. JPMorgan Chase & Co. downgraded shares of Sirius XM from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $5.36 to $5.00 in a report on Tuesday. Pivotal Research reiterated a “buy” rating and issued a $6.80 target price (up from $6.25) on shares of Sirius XM in a report on Wednesday, October 25th. Zacks Investment Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Thursday, November 2nd. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $6.00 target price on shares of Sirius XM in a research report on Wednesday, October 18th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $5.94.
Sirius XM (NASDAQ SIRI) traded down $0.17 during mid-day trading on Tuesday, reaching $5.20. 24,468,392 shares of the company’s stock were exchanged, compared to its average volume of 21,535,848. The company has a current ratio of 0.19, a quick ratio of 0.18 and a debt-to-equity ratio of -6.41. Sirius XM has a fifty-two week low of $4.40 and a fifty-two week high of $5.89. The stock has a market cap of $24,633.60, a PE ratio of 28.86, a PEG ratio of 1.72 and a beta of 1.12.
Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. Sirius XM had a net margin of 16.71% and a negative return on equity of 93.51%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.04 EPS. sell-side analysts forecast that Sirius XM will post 0.19 earnings per share for the current fiscal year.
In related news, CEO James E. Meyer sold 172,704 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $5.68, for a total value of $980,958.72. Following the completion of the transaction, the chief executive officer now directly owns 3,377,085 shares of the company’s stock, valued at approximately $19,181,842.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Patrick L. Donnelly sold 1,374,479 shares of the stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $5.70, for a total value of $7,834,530.30. Following the completion of the transaction, the executive vice president now directly owns 227,430 shares of the company’s stock, valued at $1,296,351. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of SIRI. Macquarie Group Ltd. grew its holdings in shares of Sirius XM by 476.2% during 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 during the period. Colony Group LLC purchased a new position in shares of Sirius XM during the 2nd quarter worth $102,000. Toronto Dominion Bank grew its holdings in shares of Sirius XM by 9.7% during the 2nd quarter. Toronto Dominion Bank now owns 20,278 shares of the company’s stock worth $111,000 after purchasing an additional 1,799 shares during the period. Kalos Management Inc. purchased a new position in shares of Sirius XM during the 3rd quarter worth $114,000. Finally, AE Wealth Management LLC grew its holdings in shares of Sirius XM by 72.7% during the 3rd quarter. AE Wealth Management LLC now owns 23,579 shares of the company’s stock worth $130,000 after purchasing an additional 9,924 shares during the period. 19.57% of the stock is owned by institutional investors and hedge funds.
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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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