Citigroup Inc. Raises Sirius XM Holdings Inc. (SIRI) Price Target to $6.65
Sirius XM Holdings Inc. (NASDAQ:SIRI) had its price objective upped by research analysts at Citigroup Inc. from $5.50 to $6.65 in a research note issued to investors on Monday. The brokerage presently has a “buy” rating on the stock. Citigroup Inc.’s price objective suggests a potential upside of 18.75% from the stock’s current price.
Several other equities analysts also recently commented on the stock. Vetr raised shares of Sirius XM Holdings from a “buy” rating to a “strong-buy” rating and set a $6.31 target price on the stock in a report on Monday. BidaskClub raised shares of Sirius XM Holdings from a “buy” rating to a “strong-buy” rating in a report on Thursday. Zacks Investment Research downgraded shares of Sirius XM Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 31st. FBR & Co reissued an “outperform” rating and issued a $6.00 target price (up previously from $5.70) on shares of Sirius XM Holdings in a report on Sunday, July 30th. Finally, Pivotal Research reissued a “buy” rating and issued a $6.25 target price on shares of Sirius XM Holdings in a report on Sunday, July 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $5.73.
Shares of Sirius XM Holdings (NASDAQ:SIRI) traded up 0.72% during trading on Monday, hitting $5.60. 14,016,136 shares of the stock were exchanged. The stock has a market cap of $25.83 billion, a PE ratio of 32.94 and a beta of 1.11. The firm has a 50 day moving average of $5.40 and a 200-day moving average of $5.11. Sirius XM Holdings has a 52-week low of $4.05 and a 52-week high of $5.89.
Sirius XM Holdings (NASDAQ:SIRI) last released its earnings results on Thursday, July 27th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Sirius XM Holdings had a net margin of 15.47% and a negative return on equity of 99.07%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts anticipate that Sirius XM Holdings will post $0.18 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Sirius XM Holdings by 3,534.6% in the first quarter. BlackRock Inc. now owns 82,131,614 shares of the company’s stock worth $422,980,000 after buying an additional 79,871,880 shares during the period. FMR LLC boosted its position in Sirius XM Holdings by 12.8% in the first quarter. FMR LLC now owns 41,962,057 shares of the company’s stock worth $216,105,000 after buying an additional 4,772,837 shares during the period. Geode Capital Management LLC boosted its position in Sirius XM Holdings by 8.6% in the first quarter. Geode Capital Management LLC now owns 14,647,919 shares of the company’s stock worth $75,412,000 after buying an additional 1,159,420 shares during the period. Bank of New York Mellon Corp boosted its position in Sirius XM Holdings by 27.8% in the first quarter. Bank of New York Mellon Corp now owns 12,852,072 shares of the company’s stock worth $66,189,000 after buying an additional 2,792,456 shares during the period. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in Sirius XM Holdings during the first quarter worth $55,871,000. Institutional investors and hedge funds own 22.30% of the company’s stock.
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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