Q4 Earnings Estimate for Sirius XM Issued By Seaport Res Ptn

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Research analysts at Seaport Res Ptn reduced their Q4 2024 earnings per share estimates for shares of Sirius XM in a report issued on Thursday, October 31st. Seaport Res Ptn analyst D. Joyce now forecasts that the company will earn $0.41 per share for the quarter, down from their prior forecast of $0.54. The consensus estimate for Sirius XM’s current full-year earnings is $3.04 per share.

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 the consensus estimate of $0.80. Sirius XM had a negative net margin of 23.02% and a positive return on equity of 68.38%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion.

A number of other analysts also recently issued reports on SIRI. Guggenheim raised Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Wednesday, September 18th. Morgan Stanley reissued an “underweight” rating and set a $23.00 price target on shares of Sirius XM in a report on Tuesday, September 24th. Citigroup raised their price target on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. initiated coverage on shares of Sirius XM in a research report on Wednesday, October 9th. They set an “underweight” rating and a $20.00 price objective for the company. Finally, Barrington Research restated an “outperform” rating and issued a $47.50 price target on shares of Sirius XM in a research note on Monday, July 15th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Sirius XM has an average rating of “Hold” and an average target price of $29.69.

Sirius XM Stock Performance

Shares of Sirius XM stock opened at $27.65 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.43. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of -4.36, a price-to-earnings-growth ratio of 1.32 and a beta of 1.04. The stock’s 50-day moving average is $26.52 and its 200-day moving average is $29.35. Sirius XM has a one year low of $22.18 and a one year high of $57.80.

Sirius XM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $1.08 annualized dividend and a yield of 3.91%. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio (DPR) is presently -16.72%.

Insider Activity at Sirius XM

In other news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the sale, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were purchased at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the completion of the transaction, the insider now directly owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.60, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SIRI. Coston McIsaac & Partners grew its holdings in shares of Sirius XM by 113.5% during the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after purchasing an additional 624 shares in the last quarter. Mather Group LLC. purchased a new stake in Sirius XM in the second quarter worth approximately $28,000. TCTC Holdings LLC purchased a new stake in Sirius XM in the third quarter worth approximately $29,000. Princeton Global Asset Management LLC boosted its stake in Sirius XM by 2,683.7% in the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after buying an additional 1,315 shares in the last quarter. Finally, Walker Asset Management LLC purchased a new stake in Sirius XM in the second quarter worth approximately $33,000. Hedge funds and other 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.