Rosenblatt Securities Lowers Sirius XM (NASDAQ:SIRI) Price Target to $45.00

Sirius XM (NASDAQ:SIRI) had its price target cut by equities research analysts at Rosenblatt Securities from $46.00 to $45.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 72.48% from the stock’s current price.

Several other research firms have also commented on SIRI. UBS Group set a $24.00 price objective on shares of Sirius XM in a research note on Tuesday, February 10th. JPMorgan Chase & Co. raised their price objective on shares of Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Evercore set a $28.00 price objective on shares of Sirius XM in a research note on Friday, May 1st. Weiss Ratings raised shares of Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Finally, Barrington Research raised their price objective on shares of Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Sirius XM has a consensus rating of “Hold” and a consensus price target of $27.45.

Sirius XM Trading Up 1.0%

Shares of SIRI stock opened at $26.09 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.44 and a quick ratio of 0.44. The firm has a market cap of $8.78 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 0.56 and a beta of 0.94. The company has a 50-day moving average of $24.43 and a two-hundred day moving average of $22.32. Sirius XM has a 1-year low of $19.76 and a 1-year high of $28.77.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. Sirius XM’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. On average, analysts predict that Sirius XM will post 3.1 EPS for the current year.

Institutional Trading of Sirius XM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIRI. Berkshire Hathaway Inc raised its holdings in Sirius XM by 4.2% during the third quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company’s stock worth $2,904,886,000 after purchasing an additional 5,030,425 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Sirius XM by 262.1% during the first quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company’s stock worth $145,426,000 after purchasing an additional 4,560,821 shares in the last quarter. AQR Capital Management LLC raised its holdings in Sirius XM by 165.2% during the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock worth $117,327,000 after purchasing an additional 3,233,922 shares in the last quarter. Norges Bank acquired a new stake in Sirius XM during the fourth quarter worth approximately $57,124,000. Finally, Hsbc Holdings PLC increased its holdings in shares of Sirius XM by 858.4% in the 4th quarter. Hsbc Holdings PLC now owns 2,076,539 shares of the company’s stock valued at $41,726,000 after acquiring an additional 1,859,872 shares during the period. Institutional investors and hedge funds own 10.69% of the company’s stock.

About Sirius XM

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.