Sirius XM FY2024 EPS Forecast Boosted by Seaport Res Ptn

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Equities research analysts at Seaport Res Ptn boosted their FY2024 earnings per share estimates for Sirius XM in a research report issued to clients and investors on Tuesday, December 10th. Seaport Res Ptn analyst D. Joyce now expects that the company will post earnings of ($6.39) per share for the year, up from their prior forecast of ($6.55). Seaport Res Ptn currently has a “Hold” rating on the stock. The consensus estimate for Sirius XM’s current full-year earnings is ($6.03) per share. Seaport Res Ptn also issued estimates for Sirius XM’s Q4 2024 earnings at $0.56 EPS, Q1 2025 earnings at $0.58 EPS, Q2 2025 earnings at $0.84 EPS, Q3 2025 earnings at $0.66 EPS, Q4 2025 earnings at $0.47 EPS, FY2025 earnings at $2.56 EPS and FY2026 earnings at $2.77 EPS.

Several other analysts have also recently weighed in on the company. StockNews.com began coverage on Sirius XM in a report on Wednesday, November 13th. They set a “sell” rating for the company. Citigroup boosted their price objective on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a report on Thursday, September 26th. Morgan Stanley reissued an “underweight” rating and set a $23.00 price objective on shares of Sirius XM in a report on Tuesday, September 24th. The Goldman Sachs Group dropped their price objective on Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, Barrington Research decreased their target price on Sirius XM from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Sirius XM has an average rating of “Hold” and a consensus price target of $28.27.

Sirius XM Stock Performance

Shares of NASDAQ:SIRI opened at $24.11 on Friday. The stock has a market capitalization of $8.18 billion, a P/E ratio of -3.84 and a beta of 1.03. Sirius XM has a 1-year low of $22.18 and a 1-year high of $57.80. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average price of $26.32 and a two-hundred day moving average price of $28.58.

Hedge Funds Weigh In On Sirius XM

Large investors have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in shares of Sirius XM during the 2nd quarter worth approximately $12,858,000. Dimensional Fund Advisors LP raised its stake in shares of Sirius XM by 8.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after purchasing an additional 353,860 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Sirius XM by 14.5% during the 2nd quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock worth $10,807,000 after purchasing an additional 490,761 shares in the last quarter. Sessa Capital IM L.P. bought a new stake in Sirius XM in the 3rd quarter valued at $77,983,000. Finally, Thompson Siegel & Walmsley LLC bought a new stake in Sirius XM in the 3rd quarter valued at $67,598,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Insider Activity at Sirius XM

In other news, major shareholder Berkshire Hathaway Inc purchased 1,259,259 shares of Sirius XM stock in a transaction on Friday, October 11th. The stock was purchased at an average price of $24.95 per share, with a total value of $31,418,512.05. Following the transaction, the insider now directly owns 108,719,088 shares in the company, valued at $2,712,541,245.60. The trade was a 1.17 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In the last three months, insiders acquired 2,646,761 shares of company stock worth $65,952,329. 0.79% of the stock is owned by company insiders.

Sirius XM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a $0.27 dividend. The ex-dividend date was Tuesday, November 5th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a dividend yield of 4.48%. Sirius XM’s payout ratio is currently -17.03%.

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.