Rosenblatt Securities Issues Pessimistic Forecast for Sirius XM (NASDAQ:SIRI) Stock Price

Sirius XM (NASDAQ:SIRI) had its price target cut by stock analysts at Rosenblatt Securities from $29.00 to $24.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Rosenblatt Securities’ price objective suggests a potential downside of 0.04% from the company’s current price.

A number of other analysts have also recently commented on the company. Benchmark reiterated a “buy” rating and set a $43.00 target price on shares of Sirius XM in a research report on Tuesday, October 15th. Wells Fargo & Company reduced their price objective on Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a research note on Thursday, December 19th. Morgan Stanley lowered 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 report on Thursday, January 23rd. StockNews.com initiated coverage on shares of Sirius XM in a research report on Wednesday, November 13th. They issued a “sell” rating for the company. Finally, Guggenheim lowered their price objective on shares of Sirius XM from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $26.96.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $24.01 on Monday. The stock’s 50-day simple moving average is $23.62 and its 200-day simple moving average is $26.68. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market capitalization of $8.13 billion, a PE ratio of -3.75, a price-to-earnings-growth ratio of 1.25 and a beta of 1.06. Sirius XM has a fifty-two week low of $20.47 and a fifty-two week high of $53.50.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, January 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.20. Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. As a group, equities research analysts forecast that Sirius XM will post 2.98 EPS for the current fiscal year.

Institutional Trading of Sirius XM

Several hedge funds have recently modified their holdings of the business. Union Bancaire Privee UBP SA acquired a new position in Sirius XM during the fourth quarter worth $26,000. Coston McIsaac & Partners boosted its position in shares of 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 purchasing an additional 624 shares in the last quarter. TCTC Holdings LLC acquired a new position in shares of Sirius XM during the 3rd quarter worth $29,000. Geneos Wealth Management Inc. increased its holdings 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 in the last quarter. Finally, Princeton Global Asset Management LLC lifted its stake in shares of Sirius XM by 2,683.7% in the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock valued at $32,000 after purchasing an additional 1,315 shares during the period. 10.69% of the stock is owned by institutional investors and hedge funds.

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.