StockNews.com Initiates Coverage on Sirius XM (NASDAQ:SIRI)

Stock analysts at StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRIGet Free Report) in a report released on Friday. The firm set a “hold” rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Rosenblatt Securities reduced their target price on shares of Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Barrington Research reissued an “outperform” rating and issued a $4.75 target price on shares of Sirius XM in a research note on Tuesday, May 28th. Seaport Res Ptn raised shares of Sirius XM from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Benchmark reduced their target price on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Finally, Guggenheim started coverage on shares of Sirius XM in a research note on Thursday, March 14th. They issued a “neutral” rating and a $4.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sirius XM has an average rating of “Hold” and a consensus price target of $4.33.

Get Our Latest Stock Report on Sirius XM

Sirius XM Stock Performance

Shares of NASDAQ:SIRI opened at $2.82 on Friday. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 8.55, a P/E/G ratio of 0.89 and a beta of 1.10. The firm has a fifty day moving average price of $3.19 and a 200 day moving average price of $4.32. Sirius XM has a fifty-two week low of $2.70 and a fifty-two week high of $7.95.

Sirius XM (NASDAQ:SIRIGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. Sirius XM’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 earnings per share. As a group, research analysts predict that Sirius XM will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Advisors LLC grew its holdings in Sirius XM by 102.8% during the 1st quarter. Cetera Advisors LLC now owns 36,295 shares of the company’s stock worth $141,000 after acquiring an additional 18,401 shares in the last quarter. Swedbank AB bought a new position in Sirius XM during the 1st quarter worth about $387,000. Virtu Financial LLC bought a new position in Sirius XM during the 1st quarter worth about $723,000. iA Global Asset Management Inc. grew its holdings in Sirius XM by 4.6% during the 1st quarter. iA Global Asset Management Inc. now owns 361,044 shares of the company’s stock worth $1,401,000 after acquiring an additional 15,779 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in Sirius XM by 144.2% during the 1st quarter. Tidal Investments LLC now owns 304,556 shares of the company’s stock worth $1,182,000 after acquiring an additional 179,822 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors.

About Sirius XM

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Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.

Further Reading

Analyst Recommendations for Sirius XM (NASDAQ:SIRI)

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