Q2 2024 EPS Estimates for Sirius XM Holdings Inc. (NASDAQ:SIRI) Boosted by Barrington Research

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Research analysts at Barrington Research upped their Q2 2024 earnings estimates for Sirius XM in a report released on Wednesday, May 1st. Barrington Research analyst J. Goss now forecasts that the company will earn $0.08 per share for the quarter, up from their prior estimate of $0.07. Barrington Research 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 announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the firm posted $0.06 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year.

A number of other brokerages also recently issued reports on SIRI. StockNews.com began coverage on shares of Sirius XM in a report on Monday, April 29th. They set a “hold” rating on the stock. Rosenblatt Securities decreased their price objective on shares of Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group raised shares of Sirius XM from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $3.50 to $3.25 in a report on Wednesday, May 1st. Seaport Res Ptn raised shares of Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Finally, Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $4.10 to $3.30 in a report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.42.

Sirius XM Stock Performance

Shares of NASDAQ SIRI opened at $3.12 on Monday. The company’s fifty day moving average price is $3.69 and its 200 day moving average price is $4.54. Sirius XM has a 1 year low of $2.92 and a 1 year high of $7.95. The company has a market capitalization of $12.00 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 1.04 and a beta of 1.10.

Institutional Investors Weigh In On Sirius XM

Institutional investors have recently made changes to their positions in the stock. Berkshire Hathaway Inc boosted its stake in shares of Sirius XM by 315.6% in the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after purchasing an additional 30,559,834 shares during the period. AQR Capital Management LLC boosted its stake in shares of Sirius XM by 482.9% in the third quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock valued at $66,178,000 after purchasing an additional 12,129,166 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Sirius XM by 169.6% in the third quarter. New York State Common Retirement Fund now owns 10,303,486 shares of the company’s stock valued at $46,572,000 after purchasing an additional 6,482,109 shares during the period. Cadian Capital Management LP purchased a new position in shares of Sirius XM in the third quarter valued at approximately $8,929,000. Finally, Northern Trust Corp boosted its stake in shares of Sirius XM by 18.7% in the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock valued at $50,878,000 after purchasing an additional 1,776,700 shares during the period. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the completion of the sale, the insider now directly owns 746,816 shares in the company, valued at $3,659,398.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the sale, the director now owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is owned by company insiders.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be given a dividend of $0.0266 per share. This represents a $0.11 annualized dividend and a yield of 3.41%. The ex-dividend date is Thursday, May 9th. Sirius XM’s payout ratio is currently 30.30%.

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.