$1.38 Billion in Sales Expected for Sirius XM Holdings Inc. (SIRI) This Quarter

Brokerages expect Sirius XM Holdings Inc. (NASDAQ:SIRI) to report $1.38 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Sirius XM’s earnings, with the lowest sales estimate coming in at $1.36 billion and the highest estimate coming in at $1.40 billion. Sirius XM reported sales of $1.29 billion in the same quarter last year, which indicates a positive year over year growth rate of 7%. The business is expected to report its next earnings report on Thursday, April 26th.

On average, analysts expect that Sirius XM will report full-year sales of $1.38 billion for the current year, with estimates ranging from $5.67 billion to $5.78 billion. For the next fiscal year, analysts forecast that the firm will report sales of $6.07 billion per share, with estimates ranging from $6.03 billion to $6.12 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Sirius XM.

A number of brokerages have issued reports on SIRI. B. Riley reissued a “buy” rating on shares of Sirius XM in a report on Wednesday, November 1st. Zacks Investment Research raised Sirius XM from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a report on Wednesday, January 24th. Buckingham Research boosted their price target on Sirius XM from $6.50 to $7.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Pivotal Research reissued a “buy” rating and issued a $6.80 price target (up from $6.25) on shares of Sirius XM in a report on Wednesday, October 25th. Finally, Barclays boosted their price target on Sirius XM from $4.50 to $5.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $6.12.

In other news, VP Thomas D. Barry sold 175,777 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $6.11, for a total transaction of $1,073,997.47. Following the completion of the transaction, the vice president now directly owns 551,815 shares of the company’s stock, valued at approximately $3,371,589.65. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO James E. Meyer sold 172,704 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $5.68, for a total value of $980,958.72. Following the transaction, the chief executive officer now directly owns 3,377,085 shares of the company’s stock, valued at $19,181,842.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,586,530 shares of company stock valued at $15,157,263. Corporate insiders own 1.06% of the company’s stock.

Several hedge funds have recently made changes to their positions in SIRI. Carillon Tower Advisers Inc. acquired a new position in shares of Sirius XM during the 4th quarter worth approximately $53,443,000. American Century Companies Inc. increased its position in shares of Sirius XM by 27.6% during the fourth quarter. American Century Companies Inc. now owns 44,612,437 shares of the company’s stock worth $239,123,000 after purchasing an additional 9,657,090 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Sirius XM by 20.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 43,824,751 shares of the company’s stock worth $234,901,000 after purchasing an additional 7,449,602 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Sirius XM during the fourth quarter worth approximately $26,702,000. Finally, Boston Advisors LLC purchased a new stake in shares of Sirius XM during the third quarter worth approximately $11,985,000. 20.32% of the stock is owned by institutional investors and hedge funds.

Sirius XM (SIRI) opened at $6.09 on Thursday. Sirius XM has a twelve month low of $4.73 and a twelve month high of $6.28. The stock has a market capitalization of $26,770.00, a P/E ratio of 43.50, a price-to-earnings-growth ratio of 1.63 and a beta of 1.17. The company has a debt-to-equity ratio of -4.42, a current ratio of 0.17 and a quick ratio of 0.16.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 7th will be paid a dividend of $0.011 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Tuesday, February 6th. Sirius XM’s payout ratio is 28.57%.

Sirius XM declared that its Board of Directors has authorized a stock buyback program on Tuesday, January 23rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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About Sirius XM

Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.

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Earnings History and Estimates for Sirius XM (NASDAQ:SIRI)

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