Research Analysts Issue Forecasts for Sirius XM Q4 Earnings

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

A number of other brokerages have also weighed in on SIRI. Morgan Stanley reaffirmed an “underweight” rating and issued a $23.00 target price on shares of Sirius XM in a research report on Tuesday, September 24th. Bank of America reaffirmed an “underperform” rating and issued a $23.00 target price on shares of Sirius XM in a research report on Thursday, October 24th. Guggenheim raised Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft decreased their price target on Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Finally, Pivotal Research dropped their price objective on Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.88.

Sirius XM Stock Performance

Shares of SIRI stock opened at $25.93 on Monday. The stock has a 50-day moving average of $26.42 and a 200-day moving average of $29.32. 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 stock has a market cap of $9.98 billion, a PE ratio of -4.09, a price-to-earnings-growth ratio of 1.32 and a beta of 1.04. Sirius XM has a one year low of $22.18 and a one year high of $57.80.

Sirius XM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a $0.27 dividend. This is a positive change 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 4.17%. The ex-dividend date of this dividend is Tuesday, November 5th. Sirius XM’s payout ratio is currently -16.72%.

Insider Transactions at Sirius XM

In other Sirius XM news, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were bought at an average cost of $24.95 per share, with a total value of $31,418,512.05. Following the purchase, the insider now directly owns 108,719,088 shares of the company’s stock, valued at $2,712,541,245.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were bought at an average price of $24.95 per share, for a total transaction of $31,418,512.05. Following the transaction, the insider now directly owns 108,719,088 shares of the company’s stock, valued at approximately $2,712,541,245.60. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM 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 completion of the sale, the insider now directly owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 2,646,761 shares of company stock worth $65,952,329 over the last three months. 0.79% of the stock is owned by company insiders.

Institutional Trading of Sirius XM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Coston McIsaac & Partners grew its holdings in shares of Sirius XM by 113.5% in the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock valued at $27,000 after acquiring an additional 624 shares in the last quarter. Mather Group LLC. bought a new position in Sirius XM in the 2nd quarter valued at $28,000. TCTC Holdings LLC purchased a new stake in shares of Sirius XM during the 3rd quarter valued at $29,000. Princeton Global Asset Management LLC increased its position in shares of Sirius XM by 2,683.7% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock valued at $32,000 after purchasing an additional 1,315 shares during the last quarter. Finally, Walker Asset Management LLC bought a new stake in shares of Sirius XM during the 2nd quarter worth $33,000. 10.69% of the stock is owned by institutional investors.

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.