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AAPL   115.81 (+1.51%)
MSFT   210.33 (+1.48%)
FB   261.90 (+0.04%)
GOOGL   1,465.60 (-0.03%)
AMZN   3,148.73 (+0.12%)
TSLA   429.01 (+2.37%)
NVDA   541.22 (+2.30%)
BABA   293.98 (+6.16%)
CGC   14.32 (-1.24%)
MU   46.96 (-7.39%)
GE   6.23 (+1.80%)
AMD   81.99 (+0.27%)
T   28.51 (+0.74%)
F   6.66 (+0.91%)
ACB   4.65 (-0.64%)
GILD   63.19 (+1.76%)
NFLX   500.03 (+1.33%)
DIS   124.08 (-1.05%)
BA   165.26 (+1.01%)
BAC   24.09 (+1.35%)
QQQ   277.84 (+0.68%)
AAPL   115.81 (+1.51%)
MSFT   210.33 (+1.48%)
FB   261.90 (+0.04%)
GOOGL   1,465.60 (-0.03%)
AMZN   3,148.73 (+0.12%)
TSLA   429.01 (+2.37%)
NVDA   541.22 (+2.30%)
BABA   293.98 (+6.16%)
CGC   14.32 (-1.24%)
MU   46.96 (-7.39%)
GE   6.23 (+1.80%)
AMD   81.99 (+0.27%)
T   28.51 (+0.74%)
F   6.66 (+0.91%)
ACB   4.65 (-0.64%)
GILD   63.19 (+1.76%)
NFLX   500.03 (+1.33%)
DIS   124.08 (-1.05%)
BA   165.26 (+1.01%)
BAC   24.09 (+1.35%)
QQQ   277.84 (+0.68%)
AAPL   115.81 (+1.51%)
MSFT   210.33 (+1.48%)
FB   261.90 (+0.04%)
GOOGL   1,465.60 (-0.03%)
AMZN   3,148.73 (+0.12%)
TSLA   429.01 (+2.37%)
NVDA   541.22 (+2.30%)
BABA   293.98 (+6.16%)
CGC   14.32 (-1.24%)
MU   46.96 (-7.39%)
GE   6.23 (+1.80%)
AMD   81.99 (+0.27%)
T   28.51 (+0.74%)
F   6.66 (+0.91%)
ACB   4.65 (-0.64%)
GILD   63.19 (+1.76%)
NFLX   500.03 (+1.33%)
DIS   124.08 (-1.05%)
BA   165.26 (+1.01%)
BAC   24.09 (+1.35%)
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Sirius XM (NASDAQ:SIRI) Raised to Buy at Benchmark

Wednesday, September 16, 2020 | MarketBeat

Sirius XM (NASDAQ:SIRI) was upgraded by Benchmark from a "hold" rating to a "buy" rating in a report issued on Wednesday, The Fly reports.

A number of other equities analysts also recently weighed in on the stock. Morgan Stanley upped their price target on shares of Sirius XM from $6.25 to $6.75 and gave the stock an "equal weight" rating in a research note on Monday, June 15th. Citigroup upped their price target on shares of Sirius XM from $5.90 to $6.75 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. BidaskClub downgraded shares of Sirius XM from a "sell" rating to a "strong sell" rating in a research report on Friday, August 21st. Pivotal Research reissued a "buy" rating and set a $7.50 target price on shares of Sirius XM in a research report on Thursday, July 30th. Finally, Zacks Investment Research downgraded shares of Sirius XM from a "buy" rating to a "hold" rating and set a $6.50 target price on the stock. in a research report on Tuesday, August 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of "Hold" and an average price target of $7.09.

SIRI opened at $5.36 on Wednesday. The stock has a fifty day moving average of $5.86 and a 200-day moving average of $5.70. The firm has a market capitalization of $23.26 billion, a P/E ratio of 24.36, a PEG ratio of 1.47 and a beta of 1.14. Sirius XM has a 12-month low of $4.11 and a 12-month high of $7.40.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.05 earnings per share for the quarter, hitting the Zacks' consensus estimate of $0.05. Sirius XM had a net margin of 12.98% and a negative return on equity of 141.29%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the business posted $0.06 earnings per share. Sirius XM's revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities analysts expect that Sirius XM will post 0.23 earnings per share for the current year.

Sirius XM announced that its board has authorized a stock buyback plan on Tuesday, July 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bartlett & Co. LLC bought a new stake in shares of Sirius XM in the first quarter valued at about $25,000. Community Bank N.A. bought a new position in Sirius XM during the second quarter worth about $29,000. Brave Asset Management Inc. bought a new position in Sirius XM during the second quarter worth about $61,000. Magnus Financial Group LLC bought a new position in Sirius XM during the first quarter worth about $55,000. Finally, Golden State Wealth Management LLC lifted its stake in Sirius XM by 1,017.5% during the second quarter. Golden State Wealth Management LLC now owns 11,175 shares of the company's stock worth $66,000 after purchasing an additional 10,175 shares during the period. Institutional investors and hedge funds own 16.80% of the company's stock.

About Sirius XM

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.

See Also: What is the Rule of 72?

The Fly

Analyst Recommendations for Sirius XM (NASDAQ:SIRI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

7 Tech Stocks to Buy Now For a Post Coronavirus Economy

The Covid-19 pandemic has created a new “tech wreck”. But unlike the broad selloff at the end of 2018, this downturn has been more selective. Some stocks that looked like they were a little overbought have seen their share prices lowered.

In some cases, there was a legitimate reason for this. However, in other cases, it was likely a result of profit-taking disguised as something else. That’s the nature of a crisis. It gives investors the cover to do what they wanted to do anyway. But once investors start to sell, it can trigger a herd mentality.

And that’s when savvy investors start to look for opportunities. Because as Warren Buffett famously said, “Be greedy when others are fearful.” Tech stocks will lead the way back when the pandemic is over. Because if there’s one thing this moment in time is teaching us, it’s that we’re not going to be less dependent on technology. Businesses aren’t going to be doing less digital advertising. Consumers aren’t going to do less e-commerce.

But the fundamentals still matter. That’s why one of the common traits of many of these companies is that they have rock-solid balance sheets.

View the "7 Tech Stocks to Buy Now For a Post Coronavirus Economy".

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