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

Sirius XM (NASDAQ:SIRI) had its price objective decreased by research analysts at Rosenblatt Securities from $29.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Rosenblatt Securities’ price target would indicate a potential downside of 2.52% from the company’s previous close.

SIRI has been the subject of a number of other reports. Bank of America reaffirmed an “underperform” rating and issued a $23.00 price objective on shares of Sirius XM in a research note on Thursday, October 24th. StockNews.com started coverage on shares of Sirius XM in a research note on Wednesday, November 13th. They set a “sell” rating on the stock. Barrington Research restated an “outperform” rating and set a $30.00 target price on shares of Sirius XM in a report on Thursday, January 30th. Morgan Stanley cut their price target on Sirius XM from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. Finally, Benchmark restated a “buy” rating and set a $43.00 price objective on shares of Sirius XM in a research note on Tuesday, October 15th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.96.

Sirius XM Price Performance

Sirius XM stock opened at $24.62 on Monday. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of -3.84, a price-to-earnings-growth ratio of 1.25 and a beta of 1.06. The firm has a 50-day moving average of $23.56 and a two-hundred day moving average of $26.60. Sirius XM has a 1 year low of $20.47 and a 1 year high of $51.80. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.42 and a quick ratio of 0.42.

Sirius XM (NASDAQ:SIRI) last released 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 positive return on equity of 13.44% and a negative net margin of 24.03%. On average, research analysts forecast that Sirius XM will post 2.98 earnings per share for the current year.

Hedge Funds Weigh In On Sirius XM

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

Sirius XM Company Profile

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.