Sirius XM (SIRI) Given a $6.00 Price Target by Royal Bank of Canada Analysts

Royal Bank of Canada set a $6.00 price objective on Sirius XM (NASDAQ:SIRI) in a report published on Thursday morning. The brokerage currently has a hold rating on the stock.

Several other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Sirius XM from a hold rating to a sell rating in a report on Friday, January 5th. Barrington Research cut shares of Sirius XM from an outperform rating to a market perform rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. cut shares of Sirius XM from a neutral rating to an underweight rating and reduced their target price for the company from $5.36 to $5.00 in a report on Tuesday, January 2nd. BidaskClub cut shares of Sirius XM from a hold rating to a sell rating in a report on Wednesday, December 20th. Finally, B. Riley reaffirmed a buy rating on shares of Sirius XM in a report on Wednesday, November 1st. Four analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $5.94.

Shares of Sirius XM (SIRI) traded down $0.02 on Thursday, hitting $5.48. 15,704,700 shares of the stock traded hands, compared to its average volume of 22,710,000. The firm has a market capitalization of $25,280.00, a PE ratio of 30.44, a PEG ratio of 1.58 and a beta of 1.12. Sirius XM has a 1-year low of $4.52 and a 1-year high of $5.89. The company has a debt-to-equity ratio of -6.41, a current ratio of 0.19 and a quick ratio of 0.18.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Wednesday, October 25th. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Sirius XM had a net margin of 16.71% and a negative return on equity of 93.51%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 earnings per share. equities research analysts forecast that Sirius XM will post 0.19 EPS for the current year.

In other news, EVP Patrick L. Donnelly sold 1,374,479 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $5.70, for a total transaction of $7,834,530.30. Following the transaction, the executive vice president now directly owns 227,430 shares in the company, valued at $1,296,351. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James E. Meyer sold 172,704 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $5.68, for a total transaction of $980,958.72. Following the transaction, the chief executive officer now owns 3,377,085 shares in the company, valued at $19,181,842.80. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Sirius XM by 1.2% during the second quarter. Vanguard Group Inc. now owns 78,433,991 shares of the company’s stock worth $429,035,000 after acquiring an additional 957,278 shares during the last quarter. FMR LLC grew its position in shares of Sirius XM by 3.8% during the second quarter. FMR LLC now owns 43,576,316 shares of the company’s stock worth $238,362,000 after acquiring an additional 1,614,259 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Sirius XM by 119.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 34,373,843 shares of the company’s stock worth $188,025,000 after acquiring an additional 18,694,885 shares during the last quarter. Eagle Asset Management Inc. grew its position in shares of Sirius XM by 4.0% during the third quarter. Eagle Asset Management Inc. now owns 13,785,317 shares of the company’s stock worth $75,819,000 after acquiring an additional 526,766 shares during the last quarter. Finally, APG Asset Management N.V. grew its position in shares of Sirius XM by 23.8% during the third quarter. APG Asset Management N.V. now owns 11,186,062 shares of the company’s stock worth $61,747,000 after acquiring an additional 2,147,800 shares during the last quarter. Institutional investors and hedge funds own 19.57% of the company’s stock.

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About Sirius XM

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 (NASDAQ:SIRI)

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