Sirius XM Holdings Inc. to Post FY2024 Earnings of $0.27 Per Share, Seaport Res Ptn Forecasts (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Equities researchers at Seaport Res Ptn raised their FY2024 earnings per share estimates for Sirius XM in a report issued on Tuesday, April 30th. Seaport Res Ptn analyst D. Joyce now anticipates that the company will post earnings of $0.27 per share for the year, up from their prior estimate of $0.26. Seaport Res Ptn currently has a “Buy” rating on the stock. The consensus estimate for Sirius XM’s current full-year earnings is $0.30 per share.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share.

A number of other analysts also recently weighed in on the company. Guggenheim initiated coverage on Sirius XM in a research note on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price target on the stock. Benchmark decreased their price target on Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Pivotal Research upgraded Sirius XM from a “hold” rating to a “buy” rating and decreased their price target for the company from $5.05 to $4.90 in a research note on Wednesday, April 24th. Citigroup upgraded Sirius XM from a “sell” rating to a “neutral” rating and decreased their price target for the company from $4.10 to $3.30 in a research note on Wednesday, April 24th. Finally, StockNews.com initiated coverage on Sirius XM in a research note on Monday. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.42.

Sirius XM Trading Up 2.3 %

NASDAQ:SIRI opened at $3.12 on Friday. The firm has a market cap of $12.00 billion, a P/E ratio of 9.24, a PEG ratio of 1.02 and a beta of 1.10. The stock’s 50 day simple moving average is $3.72 and its 200-day simple moving average is $4.56. Sirius XM has a 12-month low of $2.92 and a 12-month high of $7.95.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BKM Wealth Management LLC purchased a new position in Sirius XM in the fourth quarter valued at about $27,000. Truvestments Capital LLC bought a new position in Sirius XM during the 3rd quarter worth approximately $27,000. First United Bank & Trust bought a new position in Sirius XM during the 4th quarter worth approximately $37,000. TFO Wealth Partners LLC lifted its holdings in Sirius XM by 140,560.0% during the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after buying an additional 7,028 shares during the last quarter. Finally, American National Bank bought a new position in Sirius XM during the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Insider Activity

In related news, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the transaction, the insider now directly owns 746,816 shares in the company, valued at $3,659,398.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director James E. Meyer sold 800,000 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the sale, the insider now directly owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Sirius XM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be given a $0.0266 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.11 annualized dividend and a dividend yield of 3.41%. Sirius XM’s dividend payout ratio is currently 33.33%.

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.