Sirius XM Holdings Inc. (NASDAQ:SIRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, November 2nd. The firm currently has a $6.00 price objective on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 9.89% from the company’s previous close.
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.”
A number of other brokerages also recently commented on SIRI. Macquarie restated a “buy” rating and set 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 upped their price objective on shares of Sirius XM Holdings from $4.75 to $6.10 and gave the stock 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 began coverage on shares of Sirius XM Holdings in a research report on Friday, September 15th. They set 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 report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Sirius XM Holdings presently has an average rating of “Buy” and a consensus price target of $6.01.
Sirius XM Holdings (NASDAQ:SIRI) last issued its earnings results on Wednesday, October 25th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. Sirius XM Holdings had a net margin of 16.71% and a negative return on equity of 93.51%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the prior year, the business posted $0.04 EPS. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. analysts expect that Sirius XM Holdings will post 0.19 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: “Zacks Investment Research Upgrades Sirius XM Holdings Inc. (SIRI) to “Buy”” was originally posted by BBNS and is the sole property of of BBNS. If you are viewing this piece of content on another website, it was stolen and republished in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://baseballnewssource.com/markets/sirius-xm-holdings-inc-siri-raised-to-buy-at-zacks-investment-research/1751620.html.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Capstone Asset Management Co. raised its stake in shares of Sirius XM Holdings by 0.3% during the second quarter. Capstone Asset Management Co. now owns 65,346 shares of the company’s stock valued at $357,000 after purchasing an additional 170 shares during the period. Scotia Capital Inc. raised its stake in shares of Sirius XM Holdings by 0.8% during the second quarter. Scotia Capital Inc. now owns 25,494 shares of the company’s stock valued at $139,000 after purchasing an additional 206 shares during the period. Pitcairn Co. raised its stake in shares of Sirius XM Holdings by 1.3% during the second quarter. Pitcairn Co. now owns 18,708 shares of the company’s stock valued at $102,000 after purchasing an additional 237 shares during the period. GM Advisory Group Inc. raised its stake in shares of Sirius XM Holdings by 0.9% during the second quarter. GM Advisory Group Inc. now owns 33,185 shares of the company’s stock valued at $182,000 after purchasing an additional 290 shares during the period. Finally, Traynor Capital Management Inc. raised its stake in shares of Sirius XM Holdings by 1.8% during the second quarter. Traynor Capital Management Inc. now owns 32,571 shares of the company’s stock valued at $189,000 after purchasing an additional 564 shares during the period. Institutional investors own 20.28% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sirius XM Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sirius XM Holdings Inc. and related companies with our FREE daily email newsletter.