Sirius XM (NASDAQ:SIRI) Coverage Initiated by Analysts at StockNews.com

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

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $3.50 to $3.25 in a research report on Wednesday, May 1st. Seaport Res Ptn raised shares of Sirius XM from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Wells Fargo & Company dropped their price objective on shares of Sirius XM from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. Guggenheim assumed coverage on Sirius XM in a research report on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price objective on the stock. Finally, Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and lowered their target price for the company from $5.05 to $4.90 in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.33.

Check Out Our Latest Research Report on Sirius XM

Sirius XM Stock Performance

NASDAQ SIRI opened at $2.74 on Friday. Sirius XM has a 1-year low of $2.70 and a 1-year high of $7.95. The company has a 50 day moving average of $3.21 and a 200-day moving average of $4.34. The firm has a market cap of $10.54 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 0.90 and a beta of 1.10.

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

Institutional Trading of Sirius XM

A number of large investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Sirius XM by 6.0% during the third quarter. Principal Financial Group Inc. now owns 72,079 shares of the company’s stock worth $326,000 after acquiring an additional 4,086 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Sirius XM by 37.3% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 563,606 shares of the company’s stock worth $2,547,000 after purchasing an additional 153,103 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Sirius XM during the 3rd quarter worth approximately $153,000. New York State Common Retirement Fund boosted its holdings in shares of Sirius XM by 169.6% in the 3rd quarter. New York State Common Retirement Fund now owns 10,303,486 shares of the company’s stock valued at $46,572,000 after buying an additional 6,482,109 shares during the last quarter. Finally, Kingsview Wealth Management LLC bought a new position in shares of Sirius XM in the third quarter valued at $1,782,000. Institutional investors own 10.69% of the company’s stock.

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.

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Analyst Recommendations for Sirius XM (NASDAQ:SIRI)

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