Q2 2024 Earnings Estimate for Sirius XM Holdings Inc. (NASDAQ:SIRI) Issued By Barrington Research

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Investment analysts at Barrington Research upped their Q2 2024 earnings estimates for shares of Sirius XM in a research note issued on Wednesday, May 1st. Barrington Research analyst J. Goss now anticipates 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.

Several other research firms have also commented on SIRI. Seaport Res Ptn raised shares of Sirius XM from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $5.05 to $4.90 in a research note on Wednesday, April 24th. StockNews.com began coverage on shares of Sirius XM in a research note on Tuesday. They set a “hold” rating on the stock. The Goldman Sachs Group raised shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $3.50 to $3.25 in a research note on Wednesday, May 1st. Finally, Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $4.10 to $3.30 in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.42.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $3.13 on Monday. Sirius XM has a 1 year low of $2.92 and a 1 year high of $7.95. The company’s 50-day moving average is $3.62 and its 200 day moving average is $4.52. The stock has a market capitalization of $12.04 billion, a P/E ratio of 9.49, a P/E/G ratio of 1.02 and a beta of 1.10.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data 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 net margin of 14.38% and a negative return on equity of 47.17%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company earned $0.06 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year.

Institutional Trading of Sirius XM

A number of institutional investors have recently bought and sold shares of SIRI. BKM Wealth Management LLC acquired a new stake in Sirius XM during the 4th quarter valued at approximately $27,000. Truvestments Capital LLC acquired a new stake in Sirius XM during the 3rd quarter valued at approximately $27,000. First United Bank & Trust acquired a new stake in Sirius XM during the 4th quarter valued at approximately $37,000. TFO Wealth Partners LLC lifted its stake in Sirius XM by 140,560.0% during the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock valued at $38,000 after acquiring an additional 7,028 shares during the period. Finally, American National Bank purchased a new stake in Sirius XM during the fourth quarter worth $41,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sirius XM

In other news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the sale, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM 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 sale, the insider now directly owns 746,816 shares in the company, valued at approximately $3,659,398.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James E. Meyer sold 800,000 shares of Sirius XM 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 sale, the director now owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be given a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Thursday, May 9th. Sirius XM’s dividend payout ratio (DPR) is 33.33%.

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.