Barrington Research Comments on Sirius XM Holdings Inc.’s Q2 2024 Earnings (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Analysts at Barrington Research cut their Q2 2024 earnings per share (EPS) estimates for Sirius XM in a note issued to investors on Tuesday, April 23rd. Barrington Research analyst J. Goss now expects that the company will earn $0.07 per share for the quarter, down from their prior forecast of $0.08. The consensus estimate for Sirius XM’s current full-year earnings is $0.29 per share. Barrington Research also issued estimates for Sirius XM’s Q4 2025 earnings at $0.09 EPS, FY2025 earnings at $0.35 EPS and FY2026 earnings at $0.35 EPS.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.30 billion. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%.

SIRI has been the subject of a number of other reports. Guggenheim assumed coverage on Sirius XM in a research report on Thursday, March 14th. They issued a “neutral” rating and a $4.00 target price for the company. Wells Fargo & Company cut their price objective on Sirius XM from $4.50 to $3.00 and set an “underweight” rating for the company in a research report on Monday, April 1st. Benchmark cut their price objective on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Citigroup increased their price objective on Sirius XM from $3.60 to $4.10 and gave the company a “sell” rating in a research report on Friday, January 12th. Finally, StockNews.com began coverage on Sirius XM in a research report on Sunday. They set a “hold” rating for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.74.

Sirius XM Price Performance

SIRI opened at $3.16 on Wednesday. The company has a market capitalization of $12.15 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 1.05 and a beta of 1.04. Sirius XM has a 1-year low of $3.04 and a 1-year high of $7.95. The business has a 50 day moving average price of $3.96 and a two-hundred day moving average price of $4.63.

Insider Buying and Selling at Sirius XM

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

Hedge Funds Weigh In On Sirius XM

A number of hedge funds have recently modified their holdings of the stock. GM Advisory Group LLC increased its stake in shares of Sirius XM by 10.0% in the fourth quarter. GM Advisory Group LLC now owns 22,003 shares of the company’s stock worth $120,000 after acquiring an additional 2,000 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of Sirius XM by 20.5% in the fourth quarter. Lindbrook Capital LLC now owns 12,559 shares of the company’s stock worth $69,000 after acquiring an additional 2,139 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of Sirius XM by 14.8% in the fourth quarter. D.A. Davidson & CO. now owns 16,949 shares of the company’s stock worth $93,000 after acquiring an additional 2,183 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Sirius XM by 0.6% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 388,200 shares of the company’s stock worth $2,123,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Fi3 FINANCIAL ADVISORS LLC increased its stake in shares of Sirius XM by 9.6% in the third quarter. Fi3 FINANCIAL ADVISORS LLC now owns 27,518 shares of the company’s stock worth $124,000 after acquiring an additional 2,420 shares during the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

Sirius XM Company Profile

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.