Sirius XM Holdings Inc. to Post Q2 2024 Earnings of $0.07 Per Share, Barrington Research Forecasts (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Barrington Research decreased their Q2 2024 earnings estimates for shares of Sirius XM in a research note issued to investors on Tuesday, April 23rd. Barrington Research analyst J. Goss now forecasts that the company will post earnings of $0.07 per share for the quarter, down from their prior forecast of $0.08. The consensus estimate for Sirius XM’s current full-year earnings is $0.29 per share. Barrington Research also issued estimates for Sirius XM’s Q4 2025 earnings at $0.09 EPS, FY2025 earnings at $0.35 EPS and FY2026 earnings at $0.35 EPS.

A number of other equities analysts have also recently commented on the stock. Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $4.10 to $3.30 in a research note on Wednesday. Guggenheim began coverage on shares of Sirius XM in a research note on Thursday, March 14th. They set a “neutral” rating and a $4.00 price target for the company. Wells Fargo & Company dropped their price target on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating for the company in a research note on Monday, April 1st. StockNews.com began coverage on shares of Sirius XM in a research note on Sunday, April 21st. They set a “hold” rating for the company. Finally, Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and dropped their price target for the stock from $5.05 to $4.90 in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Sirius XM has a consensus rating of “Hold” and an average price target of $4.67.

Sirius XM Stock Down 4.4 %

Sirius XM stock opened at $3.02 on Wednesday. Sirius XM has a twelve month low of $2.98 and a twelve month high of $7.95. The company’s 50-day moving average price is $3.89 and its 200-day moving average price is $4.61. The company has a market cap of $11.62 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 1.07 and a beta of 1.04.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, topping 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 firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.30 billion.

Institutional Investors Weigh In On Sirius XM

A number of hedge funds and other institutional investors have recently bought and sold shares of SIRI. AE Wealth Management LLC lifted its position in Sirius XM by 9.2% during the third quarter. AE Wealth Management LLC now owns 93,104 shares of the company’s stock valued at $421,000 after acquiring an additional 7,837 shares during the last quarter. HB Wealth Management LLC lifted its position in Sirius XM by 27.3% during the third quarter. HB Wealth Management LLC now owns 14,740 shares of the company’s stock valued at $67,000 after acquiring an additional 3,163 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Sirius XM during the third quarter valued at approximately $282,000. Handelsbanken Fonder AB lifted its position in Sirius XM by 16.0% during the third quarter. Handelsbanken Fonder AB now owns 144,166 shares of the company’s stock valued at $652,000 after acquiring an additional 19,832 shares during the last quarter. Finally, Clarius Group LLC purchased a new stake in Sirius XM during the third quarter valued at approximately $52,000. Hedge funds and other 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 the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,370,042.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Joseph A. Inzerillo sold 107,611 shares of the company’s 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 owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Meyer sold 800,000 shares of the company’s 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 directly owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

Sirius XM Announces Dividend

The business 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. This represents a $0.11 annualized dividend and a yield of 3.52%. Sirius XM’s dividend payout ratio (DPR) is 31.25%.

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.