Seaport Res Ptn Equities Analysts Lift Earnings Estimates for Sirius XM Holdings Inc. (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Equities researchers at Seaport Res Ptn upped their FY2024 EPS 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 per share of $0.27 for the year, up from their prior estimate of $0.26. Seaport Res Ptn 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 posted its quarterly 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. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the business earned $0.06 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year.

A number of other research analysts have also recently commented on SIRI. Guggenheim initiated coverage on shares of Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 target price on the stock. Benchmark lowered their target price on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a report on Wednesday, March 27th. Barrington Research reissued an “outperform” rating and set a $5.75 target price on shares of Sirius XM in a research note on Tuesday. Pivotal Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and cut their price objective for the company from $5.05 to $4.90 in a research note on Wednesday, April 24th. Finally, StockNews.com began coverage on Sirius XM in a report on Monday, April 29th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.42.

Sirius XM Trading Up 2.3 %

Shares of Sirius XM stock opened at $3.12 on Friday. Sirius XM has a twelve month low of $2.92 and a twelve month high of $7.95. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of 1.02 and a beta of 1.10. The company has a fifty day moving average price of $3.72 and a 200 day moving average price of $4.56.

Hedge Funds Weigh In On Sirius XM

Several institutional investors and hedge funds have recently added to or reduced their stakes in SIRI. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Sirius XM by 152.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,460 shares of the company’s stock worth $79,000 after acquiring an additional 12,358 shares during the period. Graypoint LLC acquired a new stake in shares of Sirius XM in the 1st quarter worth about $39,000. Janney Montgomery Scott LLC boosted its position in shares of Sirius XM by 239.2% during the first quarter. Janney Montgomery Scott LLC now owns 181,072 shares of the company’s stock valued at $703,000 after buying an additional 127,689 shares during the last quarter. Source Financial Advisors LLC raised its holdings in shares of Sirius XM by 350.8% in the first quarter. Source Financial Advisors LLC now owns 170,215 shares of the company’s stock valued at $660,000 after purchasing an additional 132,455 shares during the last quarter. Finally, Van ECK Associates Corp bought a new position in shares of Sirius XM during the 1st quarter worth approximately $2,036,000. Institutional investors own 10.69% of the company’s stock.

Insider Buying and Selling

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

Sirius XM Dividend Announcement

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 dividend of $0.0266 per share. This represents a $0.11 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Thursday, May 9th. Sirius XM’s dividend payout ratio is 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.