Zacks Investment Research downgraded shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) from a hold rating to a sell rating in a research report report published on Monday morning.
According to Zacks, “Shares of Sirius XM have underperformed its industry in the last three months. The stock gained 2.6%, while the industry appreciated 3.9%. Moreover, the company's high debt levels raise concerns. Adding further to its woes, increased leverage coupled with stiff competition from rivals will act as headwinds for the company going forward. The rise in operating expenses of the company are also concerning. However, the company's healthy net subscriber growth is encouraging. In fact, the company is expected to witness further growth in this respect in 2017. The company's guidance for 2017 is also encouraging.”
A number of other research analysts also recently issued reports on SIRI. Vetr downgraded Sirius XM Holdings from a hold rating to a sell rating and set a $5.12 price target on the stock. in a research note on Monday, June 5th. Bank of America Corporation restated a buy rating and set a $5.50 price target on shares of Sirius XM Holdings in a research note on Friday, June 16th. BidaskClub upgraded Sirius XM Holdings from a buy rating to a strong-buy rating in a research note on Saturday, July 1st. Finally, Macquarie restated a buy rating and set a $6.00 price target (up previously from $5.65) on shares of Sirius XM Holdings in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $5.83.
Shares of Sirius XM Holdings (NASDAQ SIRI) opened at 5.74 on Monday. Sirius XM Holdings has a 12-month low of $4.05 and a 12-month high of $5.89. The company’s 50 day moving average price is $5.55 and its 200-day moving average price is $5.32. The firm has a market cap of $26.48 billion, a P/E ratio of 33.76 and a beta of 1.07.
Sirius XM Holdings (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. Sirius XM Holdings had a negative return on equity of 99.07% and a net margin of 15.47%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 EPS. On average, equities research analysts anticipate that Sirius XM Holdings will post $0.18 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 9th will be issued a $0.011 dividend. This is a boost from Sirius XM Holdings’s previous quarterly dividend of $0.01. This represents a $0.04 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Wednesday, November 8th. Sirius XM Holdings’s dividend payout ratio (DPR) is currently 25.00%.
Several institutional investors and hedge funds have recently bought and sold shares of SIRI. UBS Asset Management Americas Inc. lifted its holdings in shares of Sirius XM Holdings by 5.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 4,771,474 shares of the company’s stock valued at $24,573,000 after buying an additional 261,045 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Sirius XM Holdings by 0.8% in the 1st quarter. Ameriprise Financial Inc. now owns 225,013 shares of the company’s stock valued at $1,159,000 after buying an additional 1,753 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of Sirius XM Holdings by 19.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 1,691,811 shares of the company’s stock valued at $8,713,000 after buying an additional 273,684 shares during the period. Stifel Financial Corp lifted its holdings in shares of Sirius XM Holdings by 2.0% in the 1st quarter. Stifel Financial Corp now owns 92,646 shares of the company’s stock valued at $481,000 after buying an additional 1,849 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in shares of Sirius XM Holdings by 21.4% in the 1st quarter. Schroder Investment Management Group now owns 985,819 shares of the company’s stock valued at $5,137,000 after buying an additional 173,587 shares during the period. 20.31% of the stock is owned by institutional investors and hedge funds.
About Sirius XM Holdings
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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