Guggenheim Has Lowered Expectations for Sirius XM (NASDAQ:SIRI) Stock Price

Sirius XM (NASDAQ:SIRI) had its price target cut by stock analysts at Guggenheim from $30.00 to $29.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 25.49% from the stock’s previous close.

A number of other brokerages have also recently weighed in on SIRI. The Goldman Sachs Group dropped their price objective on Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Benchmark reiterated a “buy” rating and set a $43.00 price target on shares of Sirius XM in a research note on Tuesday, October 15th. Rosenblatt Securities raised their price objective on shares of Sirius XM from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Morgan Stanley cut their target price on shares of Sirius XM from $23.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Sirius XM from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.35.

Sirius XM Stock Up 5.8 %

Shares of SIRI opened at $23.11 on Wednesday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. The firm has a market cap of $7.84 billion, a P/E ratio of -3.65, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The company’s 50-day moving average price is $23.72 and its 200 day moving average price is $26.97. Sirius XM has a 12-month low of $20.47 and a 12-month high of $53.50.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.63 by $0.20. Sirius XM had a negative net margin of 23.02% and a positive return on equity of 68.38%. On average, sell-side analysts forecast that Sirius XM will post -6 earnings per share for the current year.

Institutional Trading of Sirius XM

Several institutional investors have recently modified their holdings of the stock. Coston McIsaac & Partners raised its stake in Sirius XM by 113.5% during the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after acquiring an additional 624 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Sirius XM during the fourth quarter worth about $26,000. TCTC Holdings LLC purchased a new stake in shares of Sirius XM in the 3rd quarter valued at about $29,000. Geneos Wealth Management Inc. boosted its position in shares of Sirius XM by 574.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company’s stock valued at $31,000 after purchasing an additional 1,144 shares during the period. Finally, Princeton Global Asset Management LLC grew its stake in Sirius XM by 2,683.7% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after buying an additional 1,315 shares during the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

About Sirius XM

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.