Sirius XM (SIRI) Scheduled to Post Quarterly Earnings on Tuesday

Sirius XM (NASDAQ:SIRI) will be issuing its quarterly earnings data before the market opens on Tuesday, April 30th. Analysts expect the company to announce earnings of $0.06 per share for the quarter. Sirius XM has set its FY 2024 guidance at EPS.Investors interested in participating in the company’s conference call can do so using this link.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. On average, analysts expect Sirius XM to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Sirius XM Stock Performance

Sirius XM stock opened at $3.02 on Friday. Sirius XM has a 1-year low of $2.97 and a 1-year high of $7.95. The firm has a market capitalization of $11.62 billion, a price-to-earnings ratio of 9.44, a P/E/G ratio of 1.02 and a beta of 1.04. The firm has a 50 day simple moving average of $3.85 and a 200 day simple moving average of $4.60.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be paid a $0.0266 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.11 dividend on an annualized basis and a yield of 3.52%. Sirius XM’s dividend payout ratio is 34.38%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SIRI shares. Guggenheim started coverage on shares of Sirius XM in a research note on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price objective for the company. Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and cut their price target for the company from $4.10 to $3.30 in a report on Wednesday. Wells Fargo & Company cut their price target on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating for the company in a report on Monday, April 1st. Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and cut their price target for the company from $5.05 to $4.90 in a report on Wednesday. Finally, Benchmark cut their price target on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a report on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.67.

Insider Transactions at Sirius XM

In other news, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction on Friday, February 9th. The shares were 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 approximately $5,370,042.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

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.