Barrington Research Research Analysts Decrease Earnings Estimates for Sirius XM Holdings Inc. (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Stock analysts at Barrington Research cut their Q2 2024 earnings per share (EPS) estimates for shares of Sirius XM in a report released on Tuesday, April 23rd. Barrington Research analyst J. Goss now expects that the company will post earnings per share of $0.07 for the quarter, down from their prior forecast of $0.08. The consensus estimate for Sirius XM’s current full-year earnings is $0.29 per share. Barrington Research also issued estimates for Sirius XM’s Q4 2025 earnings at $0.09 EPS, FY2025 earnings at $0.35 EPS and FY2026 earnings at $0.35 EPS.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.30 billion. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%.

Other analysts have also recently issued research reports about the company. Benchmark lowered their price target on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Wednesday, March 27th. StockNews.com started coverage on shares of Sirius XM in a research note on Sunday. They issued a “hold” rating on the stock. Wells Fargo & Company decreased their target price on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating for the company in a research report on Monday, April 1st. Guggenheim began coverage on Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price target on the stock. Finally, Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and decreased their price objective for the company from $5.05 to $4.90 in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.67.

Sirius XM Stock Performance

NASDAQ SIRI opened at $3.16 on Wednesday. The stock has a market cap of $12.15 billion, a P/E ratio of 9.88, a P/E/G ratio of 1.06 and a beta of 1.04. Sirius XM has a 12-month low of $3.04 and a 12-month high of $7.95. The company has a fifty day simple moving average of $3.92 and a two-hundred day simple moving average of $4.62.

Insider Buying and Selling at Sirius XM

In related news, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were 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 owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were 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 owns 746,816 shares in the company, valued at approximately $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SIRI. AE Wealth Management LLC raised its position in shares of Sirius XM by 9.2% in the third quarter. AE Wealth Management LLC now owns 93,104 shares of the company’s stock valued at $421,000 after buying an additional 7,837 shares during the last quarter. HB Wealth Management LLC raised its holdings in Sirius XM by 27.3% in the 3rd quarter. HB Wealth Management LLC now owns 14,740 shares of the company’s stock valued at $67,000 after acquiring an additional 3,163 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Sirius XM in the 3rd quarter worth approximately $282,000. Handelsbanken Fonder AB boosted its holdings in shares of Sirius XM by 16.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 144,166 shares of the company’s stock worth $652,000 after purchasing an additional 19,832 shares during the last quarter. Finally, Clarius Group LLC purchased a new stake in shares of Sirius XM in the third quarter valued at approximately $52,000. 10.69% of the stock is owned by institutional investors and hedge funds.

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.