Barrington Research Expects Weaker Earnings for Sirius XM

Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) - Research analysts at Barrington Research cut their FY2024 earnings per share (EPS) estimates for Sirius XM in a research note issued on Monday, November 4th. Barrington Research analyst J. Goss now expects that the company will post earnings of ($5.80) per share for the year, down from their previous forecast of $3.13. Barrington Research has a "Outperform" rating and a $40.00 price objective on the stock. The consensus estimate for Sirius XM's current full-year earnings is ($3.98) per share. Barrington Research also issued estimates for Sirius XM's Q1 2025 earnings at $0.84 EPS, Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $0.88 EPS, Q4 2025 earnings at $0.92 EPS and FY2025 earnings at $3.53 EPS.

SIRI has been the topic of several other reports. Bank of America reiterated an "underperform" rating and issued a $23.00 target price on shares of Sirius XM in a research note on Thursday, October 24th. Rosenblatt Securities reiterated a "neutral" rating and issued a $28.00 target price on shares of Sirius XM in a research note on Monday. JPMorgan Chase & Co. lifted their target price on Sirius XM from $20.00 to $21.00 and gave the company an "underweight" rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft decreased their price target on Sirius XM from $37.50 to $30.00 and set a "hold" rating on the stock in a research note on Tuesday, August 6th. Finally, Pivotal Research decreased their price target on Sirius XM from $40.00 to $37.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $28.96.

Sirius XM Stock Performance

Shares of SIRI stock traded down $0.08 during midday trading on Thursday, hitting $26.12. The company had a trading volume of 4,892,221 shares, compared to its average volume of 3,509,567. The company's 50 day simple moving average is $26.19 and its 200 day simple moving average is $29.26. Sirius XM has a 52-week low of $22.18 and a 52-week high of $57.80. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of -4.14, a PEG ratio of 1.32 and a beta of 1.04. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.43.

Hedge Funds Weigh In On Sirius XM

A number of institutional investors have recently made changes to their positions in the stock. Coston McIsaac & Partners increased its stake in 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 purchasing an additional 624 shares during the last quarter. Mather Group LLC. acquired a new position in Sirius XM in the second quarter valued at $28,000. TCTC Holdings LLC acquired a new position in Sirius XM in the third quarter valued at $29,000. Princeton Global Asset Management LLC increased 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 valued at $32,000 after purchasing an additional 1,315 shares during the last quarter. Finally, Walker Asset Management LLC acquired a new position in Sirius XM in the second quarter valued at $33,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc purchased 175,569 shares of the business's stock in a transaction dated Friday, October 18th. The stock was bought at an average cost of $27.43 per share, with a total value of $4,815,857.67. Following the completion of the acquisition, the insider now directly owns 110,276,790 shares in the company, valued at $3,024,892,349.70. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased a total of 2,646,761 shares of company stock valued at $65,952,329 over the last three months. 0.79% of the stock is currently owned by insiders.

Sirius XM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.13%. This is a boost from Sirius XM's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, November 5th. Sirius XM's payout ratio is -16.72%.

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.