FY2024 EPS Estimates for Sirius XM Holdings Inc. (NASDAQ:SIRI) Lifted by Seaport Res Ptn

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Analysts at Seaport Res Ptn boosted their FY2024 earnings per share (EPS) estimates for shares of Sirius XM in a research note issued to investors on Tuesday, April 30th. Seaport Res Ptn analyst D. Joyce now expects that the company will post earnings per share of $0.27 for the year, up from their prior forecast of $0.26. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Sirius XM’s current full-year earnings is $0.30 per share.

A number of other research analysts also recently issued reports on SIRI. Citigroup upgraded Sirius XM from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $4.10 to $3.30 in a research note on Wednesday, April 24th. Rosenblatt Securities dropped their target price on Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a research report on Wednesday. Barrington Research reiterated an “outperform” rating and issued a $5.75 price objective on shares of Sirius XM in a research report on Tuesday. Wells Fargo & Company dropped their price objective on Sirius XM from $3.00 to $2.50 and set an “underweight” rating for the company in a research note on Wednesday. Finally, Benchmark reduced their price target on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Wednesday, March 27th. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.42.

Sirius XM Trading Up 2.3 %

Shares of NASDAQ:SIRI opened at $3.12 on Friday. Sirius XM has a twelve month low of $2.92 and a twelve month high of $7.95. The company has a market capitalization of $12.00 billion, a PE ratio of 9.45, a P/E/G ratio of 1.02 and a beta of 1.10. The firm has a 50 day simple moving average of $3.72 and a 200-day simple moving average of $4.56.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 earnings per share.

Sirius XM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be given a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, May 9th. Sirius XM’s dividend payout ratio (DPR) is presently 33.33%.

Insider Activity at Sirius XM

In other news, insider Joseph A. Inzerillo sold 107,611 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the sale, the insider now owns 746,816 shares in the company, valued at $3,659,398.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was 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 owns 746,816 shares in the company, valued at approximately $3,659,398.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James E. Meyer sold 800,000 shares of the firm’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 transaction, the director now directly 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 currently owned by insiders.

Hedge Funds Weigh In On Sirius XM

Large investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC bought a new position in Sirius XM in the 3rd quarter worth about $282,000. Handelsbanken Fonder AB lifted its holdings in shares of Sirius XM by 16.0% in the third quarter. Handelsbanken Fonder AB now owns 144,166 shares of the company’s stock valued at $652,000 after purchasing an additional 19,832 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Sirius XM by 10.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 216,939 shares of the company’s stock valued at $981,000 after acquiring an additional 20,001 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in Sirius XM by 178.0% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 83,734 shares of the company’s stock valued at $378,000 after buying an additional 53,610 shares during the period. Finally, Woodmont Investment Counsel LLC acquired a new stake in Sirius XM during the third quarter valued at $271,000. Institutional investors own 10.69% of the company’s stock.

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.