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Stock Update: Sirius XM Holdings Inc. (NASDAQ:SIRI)

Stock Update: Sirius XM Holdings Inc. (NASDAQ:SIRI)
Written by
Alex Carlson
Published on
October 9, 2014
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[CNW] Sirius XM Holdings Inc. (NASDAQ:SIRI), the country's leading audio entertainment company and the Official Satellite Radio Partner of the NHL®, today announced full coverage of the 2014-15 NHL® season with satellite and online play-by-play through the regular season and Stanley Cup® Playoffs, plus expert hockey talk and more on SiriusXM NHL Network Radio™ (XM channel 218 and Sirius Premier channel 211). The full news release can be found here.Stock PerformanceTaking a look at the company’s recent performance, Sirius XM Holdings Inc. (SIRI) reported second quarter earnings for fiscal 2014 on July 29th. The company reported actual earnings per share of $0.02against the consensus Street estimate of $0.02. Sirius posted revenue of $1.04 billion against estimates of $1.02 billion.

Is this a Buying Opportunity?There are currently thirteen analysts that we track that cover the stock. Of those thirteen, nine have a Buy rating and four have a hold rating. On a consensus basis this yields a score of 2.69 and a Buy. The combined price objective of these covering analysts is $4.23. The most recent analyst activity consisted of Zacks Investment Research reiterating their Neutral stance on the company. Zacks has a price target of $3.75 which represents an upside of 6.53% from the last closing price. On the date of the report, the stock closed at $3.63.Another research firm weighing in recently was Evercore Partners who boosted price target on the stock. On July 31st Evercore Partners boosted their price target on the stock from $4.25 to $4.30. On the day of the report, SIRI shares closed at $3.38.Company ProfileSirius XM Holdings Inc. (NASDAQ:SIRI) provides satellite radio services in the United States and Canada. The company creates and broadcasts commercial-free music; sports talk and live events; comedy; news; exclusive talk and entertainment; and the comprehensive Latin music, sports, and talk programming in radio. It also provides traffic, weather, data, and information services for subscribers in cars, trucks, RVs, boats, and aircraft through SiriusXM Traffic, SiriusXM Travel Link, NavTraffic, NavWeather, SiriusXM Aviation, SiriusXM Marine, Sirius Marine Weather, XMWX Aviation, and XMWX Marine. In addition, the company offers SiriusXM programming through the SiriusXM Internet Radio App for smartphones and other connected devices, as well as online at siriusxm.com. It provides telematics and connected vehicles services, such as safety, security, and convenience services to various automotive manufacturers.

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