Barrington Research Comments on Sirius XM Holdings Inc.’s Q2 2024 Earnings (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Stock analysts at Barrington Research lowered their Q2 2024 earnings per share (EPS) estimates for shares of Sirius XM in a research note issued to investors on Tuesday, April 23rd. Barrington Research analyst J. Goss now anticipates that the company will earn $0.07 per share for the quarter, down from their prior estimate 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.

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

A number of other research firms also recently issued reports on SIRI. StockNews.com began coverage on Sirius XM in a research note on Sunday. They set a “hold” rating on the stock. Wells Fargo & Company dropped their price target on Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research note on Monday, April 1st. Benchmark dropped their price target on Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Guggenheim began coverage on Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price objective for the company. Finally, Citigroup increased their price objective on Sirius XM from $3.60 to $4.10 and gave the stock a “sell” rating in a research report on Friday, January 12th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $4.74.

Sirius XM Stock Up 1.0 %

NASDAQ:SIRI opened at $3.16 on Wednesday. The stock’s 50 day moving average price is $3.96 and its 200 day moving average price is $4.63. The company has a market capitalization of $12.15 billion, a PE ratio of 9.88, a P/E/G ratio of 1.05 and a beta of 1.04. Sirius XM has a 52-week low of $3.04 and a 52-week high of $7.95.

Hedge Funds Weigh In On Sirius XM

Several hedge funds have recently bought and sold shares of the company. AE Wealth Management LLC increased 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 worth $421,000 after buying an additional 7,837 shares in the last quarter. HB Wealth Management LLC increased 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 worth $67,000 after buying an additional 3,163 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Sirius XM during the third quarter worth $282,000. Handelsbanken Fonder AB increased 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 worth $652,000 after buying an additional 19,832 shares in the last quarter. Finally, Clarius Group LLC purchased a new position in Sirius XM during the third quarter worth $52,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was 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 of the company’s stock, valued at approximately $3,659,398.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director James E. Meyer sold 800,000 shares of the firm’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 value of $3,936,000.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of the firm’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 transaction, 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. Insiders own 0.79% of the company’s stock.

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.