Zacks: Analysts Expect Sirius XM Holdings Inc. (NASDAQ:SIRI) to Announce $0.08 Earnings Per Share

Posted by on Jun 7th, 2022

Brokerages expect that Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) will report $0.08 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Sirius XM’s earnings, with the lowest EPS estimate coming in at $0.07 and the highest estimate coming in at $0.08. Sirius XM posted earnings of $0.10 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 20%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Sirius XM will report full year earnings of $0.32 per share for the current financial year, with EPS estimates ranging from $0.31 to $0.33. For the next fiscal year, analysts forecast that the company will report earnings of $0.35 per share, with EPS estimates ranging from $0.34 to $0.39. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Sirius XM.

Sirius XM (NASDAQ:SIRI – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.15 billion. Sirius XM had a negative return on equity of 49.74% and a net margin of 15.90%. Sirius XM’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.07 EPS.

Several research firms have recently issued reports on SIRI. StockNews.com cut Sirius XM from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Zacks Investment Research downgraded Sirius XM from a “buy” rating to a “hold” rating and set a $6.75 target price for the company. in a research note on Wednesday, April 20th. Morgan Stanley downgraded Sirius XM from an “equal weight” rating to an “underweight” rating and set a $7.00 target price for the company. in a research note on Monday, April 18th. Finally, Rosenblatt Securities started coverage on Sirius XM in a research note on Tuesday, April 19th. They set a “buy” rating and a $8.00 target price for the company. Three research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.24.

In related news, Director James P. Holden sold 56,233 shares of the firm’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $6.21, for a total value of $349,206.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.63% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Sirius XM by 5.5% in the 4th quarter. BlackRock Inc. now owns 81,220,641 shares of the company’s stock valued at $515,752,000 after purchasing an additional 4,215,670 shares during the last quarter. State Street Corp raised its stake in Sirius XM by 0.5% in the 4th quarter. State Street Corp now owns 29,302,768 shares of the company’s stock valued at $186,073,000 after purchasing an additional 140,112 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Sirius XM by 22.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 19,102,250 shares of the company’s stock valued at $121,300,000 after purchasing an additional 3,546,729 shares during the last quarter. Geode Capital Management LLC raised its stake in Sirius XM by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 17,231,684 shares of the company’s stock valued at $109,333,000 after purchasing an additional 199,003 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Sirius XM by 22.6% in the 1st quarter. Northern Trust Corp now owns 13,108,517 shares of the company’s stock valued at $86,779,000 after purchasing an additional 2,413,360 shares during the last quarter. 11.79% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:SIRI traded up $0.03 on Tuesday, hitting $6.29. 901,320 shares of the company’s stock were exchanged, compared to its average volume of 18,625,138. The firm’s 50-day moving average is $6.30 and its 200 day moving average is $6.28. The company has a market capitalization of $24.76 billion, a PE ratio of 18.53, a P/E/G ratio of 2.02 and a beta of 0.95. Sirius XM has a 1-year low of $5.89 and a 1-year high of $7.29.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 25th. Investors of record on Friday, May 6th were paid a $0.022 dividend. This represents a $0.09 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Thursday, May 5th. Sirius XM’s payout ratio is currently 26.47%.

Sirius XM Company Profile (Get Rating)

Sirius XM Holdings Inc provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels.

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