Zacks Investment Research lowered shares of Sirius XM (NASDAQ:SIRI) from a hold rating to a sell rating in a research report report published on Friday, January 5th.
According to Zacks, “Shares of Sirius XM have underperformed its industry in the last six months. The stock lost 3.2%, compared with the industry's growth of 7%. Similar to the previous quarter, high costs are likely to hurt the company's bottom line in the fourth quarter of 2017 as well. The slowdown in auto sales is also a concern. the company's high debt levels are also worrisome. Increased leverage coupled with stiff competition may act as headwinds for the company going forward. However, the company's healthy net subscriber growth is a positive. Moreoever, the company’s decision to raise its full-year 2017 guidance for revenue, adjusted EBITDA and free cash flow is also impressive.”
A number of other research analysts have also commented on the company. Barrington Research lowered Sirius XM from an outperform rating to a market perform rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. lowered Sirius XM from a neutral rating to an underweight rating and cut their target price for the company from $5.36 to $5.00 in a research note on Tuesday, January 2nd. BidaskClub cut Sirius XM from a hold rating to a sell rating in a research report on Wednesday, December 20th. B. Riley restated a buy rating on shares of Sirius XM in a report on Wednesday, November 1st. Finally, Gabelli increased their target price on Sirius XM from $4.75 to $6.10 and gave the stock a buy rating in a report on Thursday, October 26th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $5.94.
Shares of Sirius XM (NASDAQ SIRI) traded down $0.02 during midday trading on Friday, hitting $5.48. The company had a trading volume of 15,775,890 shares, compared to its average volume of 23,670,664. Sirius XM has a 1-year low of $4.52 and a 1-year high of $5.89. The company has a current ratio of 0.19, a quick ratio of 0.18 and a debt-to-equity ratio of -6.41. The company has a market cap of $25,277.01, a PE ratio of 30.45, a price-to-earnings-growth ratio of 1.57 and a beta of 1.12.
Sirius XM (NASDAQ:SIRI) last posted its earnings results on Wednesday, October 25th. The company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Sirius XM had a negative return on equity of 93.51% and a net margin of 16.71%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the company earned $0.04 EPS. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. analysts predict that Sirius XM will post 0.19 EPS for the current fiscal year.
In other news, EVP Patrick L. Donnelly sold 1,374,479 shares of Sirius XM stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $5.70, for a total transaction of $7,834,530.30. Following the completion of the transaction, the executive vice president now directly owns 227,430 shares in the company, valued at approximately $1,296,351. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James E. Meyer sold 172,704 shares of Sirius XM stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3,377,085 shares of the company’s stock, valued at $19,181,842.80. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SIRI. Macquarie Group Ltd. raised its holdings in Sirius XM by 476.2% in the 2nd quarter. Macquarie Group Ltd. now owns 18,392 shares of the company’s stock valued at $101,000 after acquiring an additional 15,200 shares in the last quarter. Colony Group LLC acquired a new position in Sirius XM in the 2nd quarter valued at $102,000. Toronto Dominion Bank raised its holdings in Sirius XM by 9.7% in the 2nd quarter. Toronto Dominion Bank now owns 20,278 shares of the company’s stock valued at $111,000 after acquiring an additional 1,799 shares in the last quarter. Kalos Management Inc. acquired a new position in Sirius XM in the 3rd quarter valued at $114,000. Finally, AE Wealth Management LLC raised its holdings in Sirius XM by 72.7% in the 3rd quarter. AE Wealth Management LLC now owns 23,579 shares of the company’s stock valued at $130,000 after acquiring an additional 9,924 shares in the last quarter. 19.57% of the stock is owned by hedge funds and other institutional investors.
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Sirius XM 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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