Q2 2024 EPS Estimates for Sirius XM Holdings Inc. (NASDAQ:SIRI) Boosted by Barrington Research

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Investment analysts at Barrington Research upped their Q2 2024 earnings per share (EPS) estimates for shares of Sirius XM in a report issued on Wednesday, May 1st. Barrington Research analyst J. Goss now expects that the company will post earnings of $0.08 per share for the quarter, up from their prior estimate of $0.07. Barrington Research currently has a “Outperform” rating and a $5.75 target price on the stock. The consensus estimate for Sirius XM’s current full-year earnings is $0.31 per share. Barrington Research also issued estimates for Sirius XM’s FY2024 earnings at $0.31 EPS, Q4 2025 earnings at $0.10 EPS, FY2025 earnings at $0.36 EPS and FY2026 earnings at $0.37 EPS.

Other research analysts have also issued research reports about the company. Rosenblatt Securities reduced their price target on Sirius XM from $4.50 to $3.40 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Benchmark cut their price objective on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a report on Wednesday, March 27th. StockNews.com initiated coverage on Sirius XM in a report on Monday, April 29th. They issued a “hold” rating for the company. Citigroup upgraded Sirius XM from a “sell” rating to a “neutral” rating and cut their price objective for the company from $4.10 to $3.30 in a report on Wednesday, April 24th. Finally, Guggenheim initiated coverage on Sirius XM in a report on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Sirius XM presently has an average rating of “Hold” and an average target price of $4.42.

Sirius XM Price Performance

Shares of SIRI opened at $3.12 on Monday. The company has a market cap of $12.00 billion, a P/E ratio of 9.45, a PEG ratio of 1.04 and a beta of 1.10. The stock has a fifty day moving average price of $3.69 and a 200 day moving average price of $4.54. Sirius XM has a 12 month low of $2.92 and a 12 month high of $7.95.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 EPS.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be issued 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 30.30%.

Insider Activity

In other news, Director James E. Meyer sold 800,000 shares of the company’s stock in a transaction 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 sale, the director now directly 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 SEC, which is available at the SEC website. In related news, Director James E. Meyer sold 800,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph A. Inzerillo sold 107,611 shares of the company’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 transaction, the insider now directly owns 746,816 shares in the company, valued at $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. BI Asset Management Fondsmaeglerselskab A S increased its position in Sirius XM by 152.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,460 shares of the company’s stock worth $79,000 after purchasing an additional 12,358 shares during the last quarter. Graypoint LLC acquired a new position in Sirius XM in the 1st quarter worth about $39,000. Janney Montgomery Scott LLC increased its position in Sirius XM by 239.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 181,072 shares of the company’s stock worth $703,000 after purchasing an additional 127,689 shares during the last quarter. Source Financial Advisors LLC increased its position in Sirius XM by 350.8% in the 1st quarter. Source Financial Advisors LLC now owns 170,215 shares of the company’s stock worth $660,000 after purchasing an additional 132,455 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new position in Sirius XM in the 1st quarter worth about $2,036,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Sirius XM Company Profile

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.