Q4 2023 Earnings Estimate for Sirius XM Holdings Inc. (NASDAQ:SIRI) Issued By Barrington Research

Posted by MarketBeat News on Aug 4th, 2022

Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) – Barrington Research decreased their Q4 2023 earnings per share estimates for Sirius XM in a report released on Monday, August 1st. Barrington Research analyst J. Goss now expects that the company will post earnings of $0.09 per share for the quarter, down from their previous estimate of $0.10. The consensus estimate for Sirius XM’s current full-year earnings is $0.32 per share. Barrington Research also issued estimates for Sirius XM’s FY2024 earnings at $0.40 EPS.

Other research analysts also recently issued research reports about the company. Rosenblatt Securities initiated coverage on Sirius XM in a research note on Tuesday, April 19th. They set a “buy” rating and a $8.00 price target on the stock. Pivotal Research cut Sirius XM from a “buy” rating to a “hold” rating and reduced their price target for the company from $7.55 to $7.10 in a report on Monday. StockNews.com cut Sirius XM from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Morgan Stanley reissued a “maintains” rating on shares of Sirius XM in a report on Friday, July 29th. Finally, Citigroup dropped their price objective on Sirius XM from $7.60 to $7.50 and set a “buy” rating for the company in a research note on Thursday, July 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.94.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $6.72 on Wednesday. The stock’s 50-day moving average is $6.26 and its two-hundred day moving average is $6.27. Sirius XM has a 1-year low of $5.69 and a 1-year high of $6.88. The company has a market cap of $26.17 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 2.26 and a beta of 0.93.

Sirius XM (NASDAQ:SIRI – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Sirius XM had a negative return on equity of 40.89% and a net margin of 14.15%. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis.

Sirius XM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Friday, August 5th will be given a $0.022 dividend. The ex-dividend date is Thursday, August 4th. This represents a $0.09 dividend on an annualized basis and a yield of 1.31%. Sirius XM’s dividend payout ratio (DPR) is 29.03%.

Insiders Place Their Bets

In other Sirius XM news, VP Thomas D. Barry sold 40,793 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $6.51, for a total value of $265,562.43. Following the completion of the sale, the vice president now directly owns 1,111,973 shares in the company, valued at $7,238,944.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Thomas D. Barry sold 40,793 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $6.51, for a total transaction of $265,562.43. Following the completion of the sale, the vice president now owns 1,111,973 shares in the company, valued at approximately $7,238,944.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott Andrew Greenstein sold 1,081,370 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $6.58, for a total value of $7,115,414.60. Following the sale, the insider now owns 7,198,469 shares of the company’s stock, valued at approximately $47,365,926.02. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sirius XM

Institutional investors and hedge funds have recently modified their holdings of the stock. Covestor Ltd acquired a new stake in Sirius XM during the 4th quarter valued at $26,000. Exchange Traded Concepts LLC acquired a new stake in Sirius XM during the 2nd quarter valued at $26,000. Bank of New Hampshire acquired a new stake in Sirius XM during the 1st quarter valued at $33,000. Quent Capital LLC acquired a new position in shares of Sirius XM in the first quarter worth $36,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Sirius XM in the first quarter worth $45,000. Institutional investors and hedge funds own 11.79% of the company’s stock.

About Sirius XM

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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.