Zacks: Brokerages Anticipate Sirius XM Holdings Inc. (NASDAQ:SIRI) Will Announce Quarterly Sales of $2.25 Billion

Equities research analysts expect Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) to announce $2.25 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Sirius XM’s earnings. The highest sales estimate is $2.28 billion and the lowest is $2.21 billion. Sirius XM reported sales of $2.16 billion in the same quarter last year, which indicates a positive year over year growth rate of 4.2%. The business is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Sirius XM will report full-year sales of $9.12 billion for the current financial year, with estimates ranging from $9.05 billion to $9.18 billion. For the next year, analysts anticipate that the company will report sales of $9.51 billion, with estimates ranging from $9.38 billion to $9.56 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Sirius XM.

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

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

In other news, Director James P. Holden sold 56,233 shares of the firm’s stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $6.21, for a total transaction of $349,206.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.63% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position 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 buying an additional 4,215,670 shares during the last quarter. State Street Corp raised its position 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 buying an additional 140,112 shares during the last quarter. Goldman Sachs Group Inc. raised its position 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 buying an additional 3,546,729 shares during the last quarter. Geode Capital Management LLC raised its position 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 buying an additional 199,003 shares during the last quarter. Finally, Northern Trust Corp raised its position 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 buying an additional 2,413,360 shares during the last quarter. 11.79% of the stock is currently owned by institutional investors.

Shares of SIRI stock opened at $6.21 on Thursday. The stock’s fifty day moving average is $6.28 and its 200-day moving average is $6.28. The stock has a market capitalization of $24.44 billion, a PE ratio of 18.26, a PEG ratio of 2.02 and a beta of 0.95. Sirius XM has a 52 week low of $5.89 and a 52 week high of $7.29.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 25th. Shareholders of record on Friday, May 6th were paid a $0.022 dividend. This represents a $0.09 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, May 5th. Sirius XM’s payout ratio is 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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