Brokers Set Expectations for Sirius XM Holdings Inc.’s FY2024 Earnings (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Investment analysts at Seaport Res Ptn upped their FY2024 earnings estimates for Sirius XM in a research report issued to clients and investors on Tuesday, April 30th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will earn $0.27 per share for the year, up from their previous forecast 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.

A number of other brokerages have also weighed in on SIRI. Citigroup raised Sirius XM from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $4.10 to $3.30 in a research report on Wednesday, April 24th. Barrington Research reaffirmed an “outperform” rating and issued a $5.75 price objective on shares of Sirius XM in a research note on Tuesday, April 30th. StockNews.com assumed coverage on shares of Sirius XM in a research report on Monday, April 29th. They set a “hold” rating for the company. Pivotal Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and lowered their target price for the stock from $5.05 to $4.90 in a report on Wednesday, April 24th. Finally, Benchmark cut their price target on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Sirius XM currently has a consensus rating of “Hold” and a consensus target price of $4.42.

Sirius XM Stock Performance

Shares of NASDAQ:SIRI opened at $3.12 on Friday. Sirius XM has a 52-week low of $2.92 and a 52-week high of $7.95. The business’s 50 day simple moving average is $3.69 and its two-hundred day simple moving average is $4.54. The firm has a market cap of $12.00 billion, a P/E ratio of 9.45, a PEG 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, topping 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 company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the firm earned $0.06 EPS. The business’s revenue was up .8% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Berkshire Hathaway Inc lifted its holdings in Sirius XM by 315.6% during the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after purchasing an additional 30,559,834 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Sirius XM by 482.9% in the 3rd quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock worth $66,178,000 after buying an additional 12,129,166 shares during the period. New York State Common Retirement Fund grew its stake in Sirius XM by 169.6% in the 3rd quarter. New York State Common Retirement Fund now owns 10,303,486 shares of the company’s stock valued at $46,572,000 after buying an additional 6,482,109 shares in the last quarter. Cadian Capital Management LP bought a new stake in Sirius XM during the 3rd quarter valued at $8,929,000. Finally, Northern Trust Corp boosted its holdings in shares of Sirius XM by 18.7% in the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after acquiring an additional 1,776,700 shares during the period. Institutional investors own 10.69% of the company’s stock.

Insider Buying and Selling 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 stock was sold at an average price of $4.92, for a total transaction 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 is available at the SEC website. In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the 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 transaction, the insider now directly owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 owns 1,091,472 shares in the company, valued at $5,370,042.24. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be given a $0.0266 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.11 annualized dividend and a yield of 3.41%. Sirius XM’s dividend payout ratio is currently 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.