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

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

Other equities research analysts have also recently issued reports about the stock. UBS Group set a $24.00 target price on shares of Sirius XM in a research report on Tuesday, February 10th. Guggenheim reiterated a “buy” rating and issued a $34.00 target price (up from $29.00) on shares of Sirius XM in a research report on Friday, April 24th. Barrington Research increased their target price on shares of Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Evercore set a $28.00 target price on shares of Sirius XM in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $27.45.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $26.09 on Tuesday. The company has a fifty day moving average of $24.43 and a two-hundred day moving average of $22.32. The stock has a market capitalization of $8.78 billion, a PE ratio of 11.01, a P/E/G ratio of 0.56 and a beta of 0.94. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.44 and a current ratio of 0.44. Sirius XM has a fifty-two week low of $19.76 and a fifty-two week high of $28.77.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. As a group, research analysts forecast that Sirius XM will post 3.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sirius XM

A number of hedge funds have recently modified their holdings of SIRI. Altshuler Shaham Ltd boosted its stake in Sirius XM by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after buying an additional 417 shares during the period. Geneos Wealth Management Inc. boosted its stake in Sirius XM by 36.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after buying an additional 493 shares during the period. Krilogy Financial LLC boosted its stake in Sirius XM by 1.1% during the fourth quarter. Krilogy Financial LLC now owns 53,572 shares of the company’s stock worth $1,097,000 after buying an additional 577 shares during the period. Rossby Financial LCC boosted its stake in Sirius XM by 57.7% during the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after buying an additional 593 shares during the period. Finally, SBI Securities Co. Ltd. boosted its stake in Sirius XM by 4.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 13,589 shares of the company’s stock worth $272,000 after buying an additional 594 shares during the period. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Sirius XM Company Profile

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.