Sirius XM Holdings Inc. (NASDAQ:SIRI) Expected to Post Quarterly Sales of $2.13 Billion

Analysts expect Sirius XM Holdings Inc. (NASDAQ:SIRIGet Rating) to post sales of $2.13 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Sirius XM’s earnings, with estimates ranging from $2.11 billion to $2.14 billion. Sirius XM reported sales of $2.06 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3.4%. The company is scheduled to report its next quarterly earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Sirius XM will report full-year sales of $9.00 billion for the current year, with estimates ranging from $8.97 billion to $9.02 billion. For the next year, analysts expect that the business will post sales of $9.41 billion, with estimates ranging from $9.36 billion to $9.47 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Sirius XM.

Sirius XM (NASDAQ:SIRIGet Rating) last issued its earnings results on Tuesday, February 1st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.01. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Sirius XM had a net margin of 15.10% and a negative return on equity of 54.26%. Sirius XM’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 EPS.

A number of brokerages have recently issued reports on SIRI. JPMorgan Chase & Co. cut shares of Sirius XM from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $7.00 to $6.00 in a report on Thursday, January 13th. Wells Fargo & Company cut shares of Sirius XM from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $8.00 to $7.00 in a report on Tuesday, January 4th. Finally, StockNews.com began coverage on shares of Sirius XM in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.33.

Shares of SIRI stock traded up $0.01 on Friday, reaching $6.53. The stock had a trading volume of 11,900,781 shares, compared to its average volume of 21,016,275. The firm’s 50-day moving average is $6.36 and its two-hundred day moving average is $6.28. The firm has a market capitalization of $25.78 billion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 2.08 and a beta of 0.95. Sirius XM has a 12 month low of $5.75 and a 12 month high of $7.29.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 25th. Shareholders of record on Friday, February 11th were given a dividend of $0.022 per share. The ex-dividend date was Thursday, February 10th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.35%. Sirius XM’s payout ratio is presently 29.03%.

In related news, Director James P. Holden sold 56,233 shares of the stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $6.21, for a total transaction of $349,206.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 53,494 shares of the stock in a transaction that occurred on Friday, February 11th. The stock was sold at an average price of $6.24, for a total transaction of $333,802.56. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

Large investors have recently modified their holdings of the stock. Key Financial Inc lifted its stake in Sirius XM by 103.0% in the 4th quarter. Key Financial Inc now owns 3,941 shares of the company’s stock valued at $25,000 after purchasing an additional 2,000 shares during the last quarter. Covestor Ltd bought a new position in Sirius XM in the 4th quarter valued at approximately $26,000. Kozak & Associates Inc. bought a new position in Sirius XM in the 3rd quarter valued at approximately $27,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in Sirius XM in the 3rd quarter valued at approximately $26,000. Finally, Lindbrook Capital LLC lifted its stake in Sirius XM by 59.3% in the 4th quarter. Lindbrook Capital LLC now owns 5,375 shares of the company’s stock valued at $34,000 after purchasing an additional 2,000 shares during the last quarter. 12.64% of the stock is owned by institutional investors and hedge funds.

About Sirius XM (Get Rating)

Sirius XM Holdings Inc provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels.

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Earnings History and Estimates for Sirius XM (NASDAQ:SIRI)

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