Sirius XM (NASDAQ:SIRI) Shares Gap Up After Earnings Beat

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s share price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $21.06, but opened at $22.55. Sirius XM shares last traded at $22.9280, with a volume of 2,506,044 shares changing hands.

The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. Sirius XM had a negative net margin of 26.41% and a positive return on equity of 3.73%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the company earned ($8.74) EPS. Sirius XM’s quarterly revenue was down .6% compared to the same quarter last year. Sirius XM has set its FY 2025 guidance at EPS.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Wednesday, November 5th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, November 5th. Sirius XM’s dividend payout ratio is -16.00%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SIRI shares. Rosenblatt Securities upped their price target on Sirius XM from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, August 4th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sirius XM in a research report on Tuesday, October 14th. Morgan Stanley upped their price objective on shares of Sirius XM from $21.00 to $22.00 and gave the stock an “underweight” rating in a report on Wednesday, July 16th. Wells Fargo & Company lowered their price objective on shares of Sirius XM from $19.00 to $18.00 and set an “underweight” rating on the stock in a report on Friday, August 1st. Finally, Barrington Research restated an “outperform” rating and set a $28.00 price objective on shares of Sirius XM in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $25.13.

Institutional Investors Weigh In On Sirius XM

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sound Income Strategies LLC purchased a new stake in Sirius XM in the 3rd quarter valued at about $33,000. Quaker Wealth Management LLC increased its position in shares of Sirius XM by 214.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 1,603 shares of the company’s stock valued at $37,000 after purchasing an additional 3,001 shares during the last quarter. True Wealth Design LLC increased its holdings in Sirius XM by 47.8% during the second quarter. True Wealth Design LLC now owns 1,616 shares of the company’s stock worth $37,000 after buying an additional 523 shares during the last quarter. Mather Group LLC. purchased a new stake in Sirius XM in the third quarter worth $42,000. Finally, Geneos Wealth Management Inc. increased its holdings in Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after acquiring an additional 493 shares during the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Sirius XM Trading Up 10.1%

The firm has a fifty day moving average of $22.73 and a two-hundred day moving average of $22.39. The company has a market cap of $7.81 billion, a PE ratio of -3.44, a price-to-earnings-growth ratio of 0.32 and a beta of 0.93. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.89.

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.