Sirius XM Radio (NASDAQ:SIRI) was downgraded by analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. They currently have a $4.25 price target on the stock. Goldman Sachs Group Inc.’s price target suggests a potential upside of 8.70% from the stock’s previous close.
The analysts wrote, “We remove Sirius XM shares from the Americas Buy List, and downgrade the stock to Neutral, as we see less upside to our 12-month, $4.25 price target. We believe the core elements of the Sirius XM story remain in place, including strong volume growth (SAAR strength, used car opportunity), margin expansion, and outsized FCF/share growth. However, we look for a better entry point, with the stock now trading at a sub-5% normalized FCF yield for 2014. Since adding SIRI to the Americas Buy List on 12/17/12, shares are +39% vs. the S&P 500 +22%.”
Sirius XM Radio (NASDAQ:SIRI) traded down 4.09% on Friday, hitting $3.75. The stock had a trading volume of 54,178,680 shares. Sirius XM Radio has a one year low of $2.33 and a one year high of $3.88. The stock has a 50-day moving average of $3.7 and a 200-day moving average of $3.4. The company has a market cap of $23.285 billion and a price-to-earnings ratio of 52.13. Sirius XM Radio also saw unusually large options trading on Wednesday. Stock investors bought 38,409 put options on the company. This represents an increase of approximately 1,108% compared to the typical daily volume of 3,180 put options.
Sirius XM Radio (NASDAQ:SIRI) last announced its earnings results on Thursday, October 24th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.01. The company had revenue of $962.00 million for the quarter, compared to the consensus estimate of $969.49 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis.
A number of other analysts have also recently weighed in on SIRI. Analysts at Evercore Partners downgraded shares of Sirius XM Radio from an “overweight” rating to an “equal weight” rating in a research note to investors on Friday. Separately, analysts at FBR Capital Markets initiated coverage on shares of Sirius XM Radio in a research note to investors on Wednesday. They set an “outperform” rating and a $5.50 price target on the stock. Finally, analysts at Maxim Group reiterated a “buy” rating on shares of Sirius XM Radio in a research note to investors on Tuesday. They now have a $5.80 price target on the stock, up previously from $4.60. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $4.55.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.