Several brokerages have updated their recommendations and price targets on shares of Sirius XM (NASDAQ: SIRI) in the last few weeks:

  • 10/8/2018 – Sirius XM was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $6.75 price target on the stock. According to Zacks, “Sirius XM's increasing subscriber growth is benefiting the company. Regular addition of self-pay subscribers is proving worthy for the company. Additionally, with the company set to acquire Pandora, the deal will bring together Sirius XM’s 36 million subscribers across North America and Pandora’s 71.4 million monthly active users (MAUs), thereby creating the world’s largest audio entertainment company. Moreover, improving new car as well as used car penetration bodes well for the company. Further, Sirius XM has positive record of earnings surprise in the recent quarters. However, increasing royalty related expense is expected to keep margins under pressure. The slowdown in auto sales is also a concern. Shares have underperformed the industry on a year-to-date basis.”
  • 10/3/2018 – Sirius XM was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 9/27/2018 – Sirius XM had its price target raised by analysts at MKM Partners from $8.00 to $9.15. They now have a “neutral” rating on the stock.
  • 9/26/2018 – Sirius XM was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Sirius XM's increasing royalty fee is expected to keep margins under pressure. The slowdown in auto sales is also a concern. Moreover increased leverage and stiff competition are headwinds for the company. Sirius XM has underperformed the industry on a year-to-date basis. Nevertheless, the company is benifiting from subscriber growth. Regular addition of self-pay subscribers is proving worthy for the company. Solid new car as well as used car conversion rates significantly contributed to self-pay subscriber growth. Moreover, improving new car as well as used car penetration bodes well for the company. The company’s expanding product portfolio is a key catalyst.”
  • 9/25/2018 – Sirius XM had its “neutral” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $7.50 price target on the stock, down previously from $8.50.
  • 9/24/2018 – Sirius XM was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 9/24/2018 – Sirius XM had its “buy” rating reaffirmed by analysts at Barrington Research. They now have a $8.00 price target on the stock. They wrote, “We had moved to OUTPERFORM on 1 due to the significant potential we expected in the blend of subscription products combined with monetization of the ad-based service. The all-stock acquisition price terms initially indicated a $10.14 per share value for P based on the trailing 30-day average for SIRI, close to our price target of $11 and 50% above our upgrade price. However, the announced price was also only 13.8% above the 30-day VWAP, indicating a belief that a significant share of the price arbitrage between the equities had occurred in recent trading. We are maintaining our top investment rating on SIRI, though news of the deal has pressured its shares lower. Since P should trade in relationship with SIRI, we maintain our investment rating on P as well.””
  • 9/20/2018 – Sirius XM was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 9/20/2018 – Sirius XM had its “buy” rating reaffirmed by analysts at Macquarie. They now have a $7.75 price target on the stock.
  • 9/13/2018 – Sirius XM was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of Sirius XM stock opened at $5.95 on Thursday. Sirius XM Holdings Inc has a 52-week low of $5.17 and a 52-week high of $7.70. The company has a market capitalization of $28.39 billion, a P/E ratio of 29.75, a PEG ratio of 1.72 and a beta of 1.03. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of -4.70.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Wednesday, July 25th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.06. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. Sirius XM had a negative return on equity of 78.24% and a net margin of 14.68%. Sirius XM’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.04 EPS. Research analysts forecast that Sirius XM Holdings Inc will post 0.25 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 9th will be given a dividend of $0.0121 per share. This is a positive change from Sirius XM’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, November 8th. This represents a $0.05 annualized dividend and a dividend yield of 0.81%. Sirius XM’s payout ratio is 20.00%.

In other Sirius XM news, EVP Stephen Cook sold 415,502 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $7.20, for a total transaction of $2,991,614.40. Following the transaction, the executive vice president now owns 1,988,300 shares of the company’s stock, valued at approximately $14,315,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of SIRI. BlackRock Inc. increased its position in shares of Sirius XM by 5.7% during the 2nd quarter. BlackRock Inc. now owns 78,163,054 shares of the company’s stock worth $529,167,000 after purchasing an additional 4,249,152 shares during the last quarter. FMR LLC increased its position in shares of Sirius XM by 8.8% during the 2nd quarter. FMR LLC now owns 52,096,871 shares of the company’s stock worth $352,695,000 after purchasing an additional 4,200,422 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Sirius XM by 382.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 4,895,313 shares of the company’s stock worth $33,141,000 after purchasing an additional 3,881,157 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Sirius XM by 817.2% during the 2nd quarter. Renaissance Technologies LLC now owns 4,110,000 shares of the company’s stock worth $27,825,000 after purchasing an additional 3,661,900 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Sirius XM by 135.6% during the 2nd quarter. Morgan Stanley now owns 5,508,809 shares of the company’s stock worth $37,296,000 after purchasing an additional 3,170,709 shares during the last quarter. 18.51% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.

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