Wall Street analysts expect that Sirius XM Holdings Inc (NASDAQ:SIRI) will announce $1.46 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Sirius XM’s earnings, with estimates ranging from $1.45 billion to $1.47 billion. Sirius XM posted sales of $1.38 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.8%. The firm is expected to report its next quarterly earnings results before the market opens on Wednesday, October 24th.
According to Zacks, analysts expect that Sirius XM will report full year sales of $5.76 billion for the current fiscal year, with estimates ranging from $5.74 billion to $5.77 billion. For the next fiscal year, analysts expect that the business will report sales of $6.09 billion, with estimates ranging from $6.03 billion to $6.14 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Sirius XM.
Sirius XM (NASDAQ:SIRI) last posted its earnings results on Wednesday, July 25th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. Sirius XM had a net margin of 14.68% and a negative return on equity of 78.24%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company posted $0.04 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year.
Several analysts have issued reports on the stock. Pivotal Research cut shares of Sirius XM from a “buy” rating to a “hold” rating and set a $7.75 target price on the stock. in a research note on Tuesday, June 19th. BidaskClub upgraded shares of Sirius XM from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 16th. Goldman Sachs Group cut shares of Sirius XM from a “neutral” rating to a “sell” rating and set a $6.00 target price on the stock. in a research note on Thursday, June 21st. Barclays cut shares of Sirius XM from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research note on Tuesday, June 26th. Finally, Credit Suisse Group assumed coverage on shares of Sirius XM in a research note on Tuesday, July 10th. They issued an “outperform” rating and a $8.50 target price on the stock. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $6.83.
In other news, EVP Stephen Cook sold 415,502 shares of the stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $7.20, for a total value of $2,991,614.40. Following the transaction, the executive vice president now owns 1,988,300 shares of the company’s stock, valued at approximately $14,315,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.76% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of SIRI. Stifel Financial Corp increased its holdings in shares of Sirius XM by 81.8% in the 1st quarter. Stifel Financial Corp now owns 205,216 shares of the company’s stock worth $1,281,000 after buying an additional 92,314 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Sirius XM during the 1st quarter valued at $255,000. Natixis grew its holdings in shares of Sirius XM by 30.1% during the 1st quarter. Natixis now owns 1,485,578 shares of the company’s stock valued at $9,255,000 after purchasing an additional 343,435 shares during the last quarter. TLP Group LLC grew its holdings in shares of Sirius XM by 982.7% during the 1st quarter. TLP Group LLC now owns 32,482 shares of the company’s stock valued at $203,000 after purchasing an additional 29,482 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Sirius XM by 915.0% during the 1st quarter. Millennium Management LLC now owns 592,295 shares of the company’s stock valued at $3,696,000 after purchasing an additional 533,940 shares during the last quarter. 18.51% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ SIRI opened at $6.19 on Friday. Sirius XM has a 1 year low of $5.17 and a 1 year high of $7.70. The company has a debt-to-equity ratio of -4.70, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $28.39 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 1.72 and a beta of 1.03.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 9th will be issued a $0.0121 dividend. This is a positive change from Sirius XM’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, November 8th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.78%. Sirius XM’s dividend payout ratio is presently 20.00%.
Sirius XM Company Profile
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.
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