Zacks Investment Research Upgrades Sirius XM Holdings Inc. (SIRI) to “Buy”

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.

Shares of Sirius XM Holdings (NASDAQ SIRI) traded up $0.03 during trading on Thursday, hitting $5.46. 13,265,037 shares of the stock traded hands, compared to its average volume of 21,734,416. Sirius XM Holdings has a fifty-two week low of $4.22 and a fifty-two week high of $5.89. The company has a debt-to-equity ratio of -6.41, a quick ratio of 0.18 and a current ratio of 0.19. The firm has a market cap of $25,090.00, a PE ratio of 30.33, a price-to-earnings-growth ratio of 1.75 and a beta of 1.13.

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.

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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.

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