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

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Analysts at Barrington Research boosted their Q2 2024 EPS estimates for shares of Sirius XM in a research report issued to clients and investors on Wednesday, May 1st. Barrington Research analyst J. Goss now forecasts that the company will post earnings of $0.08 per share for the quarter, up from their previous forecast of $0.07. Barrington Research currently has a “Outperform” rating and a $5.75 price target 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.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 earnings per share.

Several other equities analysts also recently issued reports on the stock. 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 objective on the stock. Wells Fargo & Company lowered their price objective on Sirius XM from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. Seaport Res Ptn upgraded Sirius XM from a “neutral” rating to a “buy” rating in a research report on Monday, April 29th. Pivotal Research upgraded Sirius XM from a “hold” rating to a “buy” rating and lowered their price target for the company from $5.05 to $4.90 in a report on Wednesday, April 24th. Finally, Benchmark cut their price objective on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.42.

Sirius XM Trading Up 1.9 %

NASDAQ:SIRI opened at $3.18 on Monday. The firm has a market cap of $12.23 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 1.02 and a beta of 1.10. Sirius XM has a 12-month low of $2.92 and a 12-month high of $7.95. The company’s 50-day moving average is $3.65 and its two-hundred day moving average is $4.53.

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be paid a $0.0266 dividend. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Thursday, May 9th. Sirius XM’s dividend payout ratio is presently 33.33%.

Insider Activity at Sirius XM

In related news, Director James E. Meyer sold 800,000 shares of the stock in a transaction 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 sale, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $5,370,042.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph A. Inzerillo sold 107,611 shares of the stock in a transaction dated 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 approximately $3,659,398.40. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

A number of hedge funds and other institutional investors have recently made changes to their positions in SIRI. Truvestments Capital LLC acquired a new position in Sirius XM during the 3rd quarter worth $27,000. BKM Wealth Management LLC acquired a new position in Sirius XM in the fourth quarter worth about $27,000. First PREMIER Bank bought a new stake in Sirius XM in the first quarter valued at about $31,000. First United Bank & Trust acquired a new stake in Sirius XM during the fourth quarter valued at approximately $37,000. Finally, TFO Wealth Partners LLC lifted its holdings 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 worth $38,000 after buying an additional 7,028 shares during the last quarter. Institutional investors own 10.69% of the company’s stock.

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.