Sirius XM Holdings Inc. (SIRI) Rating Lowered to Sell at Zacks Investment Research

Sirius XM Holdings Inc. (NASDAQ:SIRI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Even though shares of Sirius XM have outperformed its industry so far this year, we remain concerned about the company's high operating expenses. Escalated costs are likely to hurt its bottom line in the third quarter. Detailed results should be out on Oct 25. Slowdown in subscription growth is another concern. The company added 1.052 million subscribers in the first half of 2016. The number fell to 0.702 million in the first half of 2017. The company's high debt levels also raise concerns. Excessive competition may also hinder growth. We are, however, impressed by the company's recent decision to hike its quarterly dividend payout.”

Several other brokerages have also commented on SIRI. Piper Jaffray Companies set a $7.00 price target on shares of Sirius XM Holdings and gave the company a “buy” rating in a research note on Thursday, July 27th. Royal Bank Of Canada assumed coverage on shares of Sirius XM Holdings in a research note on Friday, September 15th. They issued a “sector perform” rating and a $6.00 price target on the stock. Macquarie reiterated a “buy” rating and issued a $6.00 price target (up from $5.65) on shares of Sirius XM Holdings in a research note on Thursday, July 27th. BidaskClub upgraded shares of Sirius XM Holdings from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Finally, Vetr lowered shares of Sirius XM Holdings from a “strong-buy” rating to a “buy” rating and set a $6.06 price target on the stock. in a research note on Monday, July 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $5.96.

Sirius XM Holdings (NASDAQ SIRI) opened at 5.70 on Friday. Sirius XM Holdings has a 12 month low of $4.07 and a 12 month high of $5.89. The stock has a 50 day moving average of $5.58 and a 200-day moving average of $5.34. The stock has a market cap of $26.29 billion, a P/E ratio of 33.53 and a beta of 1.07.

Sirius XM Holdings (NASDAQ:SIRI) last issued its earnings results on Thursday, July 27th. The company reported $0.04 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Sirius XM Holdings had a net margin of 15.47% and a negative return on equity of 99.07%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 earnings per share. On average, equities analysts forecast that Sirius XM Holdings will post $0.18 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. grew its position in shares of Sirius XM Holdings by 476.2% during the second quarter. Macquarie Group Ltd. now owns 18,392 shares of the company’s stock worth $101,000 after acquiring an additional 15,200 shares during the last quarter. Pitcairn Co. grew its position in shares of Sirius XM Holdings by 1.3% during the second quarter. Pitcairn Co. now owns 18,708 shares of the company’s stock worth $102,000 after acquiring an additional 237 shares during the last quarter. Colony Group LLC purchased a new position in shares of Sirius XM Holdings during the second quarter worth approximately $102,000. Toronto Dominion Bank grew its position in shares of Sirius XM Holdings by 9.7% during the second quarter. Toronto Dominion Bank now owns 20,278 shares of the company’s stock worth $111,000 after acquiring an additional 1,799 shares during the last quarter. Finally, Advisor Partners LLC grew its position in shares of Sirius XM Holdings by 103.7% during the second quarter. Advisor Partners LLC now owns 23,449 shares of the company’s stock worth $128,000 after acquiring an additional 11,938 shares during the last quarter. Institutional investors and hedge funds own 20.31% 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.

Analyst Recommendations for Sirius XM Holdings (NASDAQ:SIRI)

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