Analysts expect Sirius XM Holdings Inc. (NASDAQ:SIRI) to report sales of $2.17 billion for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Sirius XM’s earnings. The lowest sales estimate is $2.15 billion and the highest is $2.19 billion. Sirius XM reported sales of $2.03 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.9%. The company is scheduled to issue its next quarterly earnings results on Thursday, October 28th.
On average, analysts expect that Sirius XM will report full-year sales of $8.62 billion for the current year, with estimates ranging from $8.57 billion to $8.68 billion. For the next year, analysts forecast that the business will post sales of $9.04 billion, with estimates ranging from $8.96 billion to $9.15 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Sirius XM.
Sirius XM (NASDAQ:SIRI) last issued its earnings results on Tuesday, July 27th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Sirius XM had a net margin of 2.93% and a negative return on equity of 62.88%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the firm posted $0.05 EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year.
Shares of Sirius XM stock traded up $0.05 during trading on Monday, hitting $6.11. The stock had a trading volume of 10,044,687 shares, compared to its average volume of 22,415,744. The firm has a market cap of $24.75 billion, a price-to-earnings ratio of 122.20, a P/E/G ratio of 1.66 and a beta of 1.06. Sirius XM has a 12 month low of $5.19 and a 12 month high of $8.14. The business’s 50-day moving average is $6.25 and its 200 day moving average is $6.28.
Sirius XM announced that its board has initiated a stock repurchase plan on Monday, July 19th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase up to 7.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, August 30th. Investors of record on Friday, August 6th were paid a $0.0146 dividend. The ex-dividend date of this dividend was Thursday, August 5th. This represents a $0.06 dividend on an annualized basis and a yield of 0.96%. Sirius XM’s dividend payout ratio is presently 24.00%.
In other Sirius XM news, insider Scott Andrew Greenstein sold 214,948 shares of the company’s stock in a transaction dated Wednesday, July 28th. The shares were sold at an average price of $6.62, for a total transaction of $1,422,955.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.93% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SIRI. Arrowstreet Capital Limited Partnership boosted its position in Sirius XM by 94.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 20,544,297 shares of the company’s stock valued at $125,115,000 after buying an additional 10,004,116 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Sirius XM by 15.6% during the second quarter. Vanguard Group Inc. now owns 73,986,138 shares of the company’s stock worth $483,870,000 after purchasing an additional 9,990,537 shares during the period. Schroder Investment Management Group purchased a new stake in shares of Sirius XM during the first quarter worth about $32,478,000. Point72 Asset Management L.P. purchased a new stake in shares of Sirius XM during the second quarter worth about $26,794,000. Finally, Alliancebernstein L.P. boosted its holdings in shares of Sirius XM by 357.9% during the second quarter. Alliancebernstein L.P. now owns 3,031,536 shares of the company’s stock worth $19,826,000 after purchasing an additional 2,369,519 shares during the period. Institutional investors and hedge funds own 13.46% of the company’s stock.
Sirius XM Company Profile
Sirius XM Holdings, Inc is a radio company. The company offers music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services. Its brand channels include SiriusXM Traffic, SiriusXM Travel Link, NavTraffic, NavWeather, SiriusXM Aviation, and SiriusXM Marine.
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