Sirius XM (SIRI) to Release Earnings on Thursday

Sirius XM (NASDAQ:SIRI) will be announcing its earnings results before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $0.82 per share for the quarter. Sirius XM has set its FY 2024 guidance at EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.80 EPS 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 company had revenue of $2.18 billion during the quarter, compared to the consensus estimate 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 Price Performance

SIRI opened at $26.81 on Thursday. The company’s 50 day simple moving average is $27.12 and its two-hundred day simple moving average is $29.65. The firm has a market capitalization of $103.13 billion, a price-to-earnings ratio of 81.24, a price-to-earnings-growth ratio of 0.73 and a beta of 1.07. Sirius XM has a 1-year low of $22.18 and a 1-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 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 yield of 4.03%. Sirius XM’s dividend payout ratio (DPR) is presently 321.21%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average cost of $27.43 per share, for a total transaction of $4,815,857.67. Following the acquisition, the insider now directly owns 110,276,790 shares of the company’s stock, valued at $3,024,892,349.70. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 98,933 shares in the company, valued at $3,126,282.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Berkshire Hathaway Inc acquired 175,569 shares of Sirius XM stock in a transaction dated Friday, October 18th. The stock was bought at an average price of $27.43 per share, for a total transaction of $4,815,857.67. Following the completion of the purchase, the insider now owns 110,276,790 shares of the company’s stock, valued at approximately $3,024,892,349.70. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 2,646,761 shares of company stock worth $65,952,329 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on SIRI shares. Barrington Research reaffirmed an “outperform” rating and issued a $47.50 target price on shares of Sirius XM in a research note on Monday, July 15th. Citigroup raised their price objective on shares of Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Rosenblatt Securities raised their price target on shares of Sirius XM from $3.40 to $28.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Finally, Benchmark reiterated a “buy” rating and issued a $43.00 price objective on shares of Sirius XM in a report on Tuesday, October 15th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.25.

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.