Sirius XM (SIRI) to Release Earnings on Thursday

Sirius XM (NASDAQ:SIRI) is scheduled to be releasing its earnings data before the market opens on Thursday, October 31st. Analysts expect Sirius XM to post earnings of $0.82 per share for the quarter. Sirius XM has set its FY 2024 guidance at EPS.Parties interested in listening to the company’s conference call can do so using this link.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. On average, analysts expect Sirius XM to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Sirius XM Stock Down 1.5 %

NASDAQ SIRI opened at $26.81 on Thursday. Sirius XM has a 52 week low of $22.18 and a 52 week high of $57.80. The company has a 50 day moving average price of $27.12 and a 200 day moving average price of $29.65. The firm has a market cap of $103.13 billion, a PE ratio of 81.24, a price-to-earnings-growth ratio of 0.73 and a beta of 1.07.

Sirius XM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.27 per share. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.03%. Sirius XM’s dividend payout ratio is presently 321.21%.

Wall Street Analysts Forecast Growth

SIRI has been the topic of several research analyst reports. StockNews.com initiated coverage on Sirius XM in a research note on Sunday. They set a “hold” rating on the stock. Benchmark restated a “buy” rating and set a $43.00 price target on shares of Sirius XM in a research note on Tuesday, October 15th. Citigroup increased their price objective on shares of Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research report on Thursday, September 26th. Barrington Research restated an “outperform” rating and set a $47.50 price target on shares of Sirius XM in a research note on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.25.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the stock in a transaction dated Wednesday, October 9th. The shares were purchased at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the completion of the purchase, the insider now directly owns 106,024,829 shares of the company’s stock, valued at $2,496,884,722.95. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was purchased at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the purchase, the insider now directly owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the sale, the insider now owns 98,933 shares in the company, valued at approximately $3,126,282.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 2,646,761 shares of company stock valued at $65,952,329. Company insiders own 0.79% 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.