Q4 Earnings Forecast for Sirius XM Issued By Seaport Res Ptn

Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) - Analysts at Seaport Res Ptn dropped their Q4 2024 earnings estimates for Sirius XM in a report issued on Thursday, October 31st. Seaport Res Ptn analyst D. Joyce now expects 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.

Other equities research analysts also recently issued research reports about the stock. Guggenheim raised shares of Sirius XM from a "neutral" rating to a "buy" rating and set a $30.00 price objective for the company in a research report on Wednesday, September 18th. Citigroup boosted their price target on Sirius XM from $2.80 to $21.00 and gave the stock a "sell" rating in a report on Thursday, September 26th. Barrington Research restated an "outperform" rating and set a $40.00 price objective on shares of Sirius XM in a research report on Monday. Morgan Stanley reiterated an "underweight" rating and set a $23.00 price objective on shares of Sirius XM in a research report on Tuesday, September 24th. 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 report on Friday. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Sirius XM has an average rating of "Hold" and a consensus target price of $28.88.

Sirius XM Stock Performance

Shares of NASDAQ:SIRI traded down $1.72 during trading on Monday, hitting $25.93. The company's stock had a trading volume of 9,376,992 shares, compared to its average volume of 3,484,790. The company 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 firm has a market cap of $9.98 billion, a price-to-earnings ratio of -4.09, a P/E/G ratio of 1.32 and a beta of 1.04. Sirius XM has a 12 month low of $22.18 and a 12 month high of $57.80.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Sirius XM had a positive return on equity of 68.38% and a negative net margin of 23.02%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion.

Sirius XM Increases Dividend

The firm 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. The ex-dividend date is Tuesday, November 5th. This represents a $1.08 annualized dividend and a dividend yield of 4.17%. This is a positive change from Sirius XM's previous quarterly dividend of $0.27. Sirius XM's payout ratio is currently -16.72%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the business's stock in a transaction dated Wednesday, October 9th. The shares were acquired at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the acquisition, the insider now owns 106,024,829 shares of the company's stock, valued at $2,496,884,722.95. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the firm's stock in a transaction on Wednesday, October 9th. The stock was acquired at an average cost of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the transaction, the insider now owns 106,024,829 shares in the company, valued at $2,496,884,722.95. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 98,933 shares in the company, valued at approximately $3,126,282.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 2,646,761 shares of company stock worth $65,952,329. Corporate insiders own 0.79% of the company's stock.

Institutional Trading of Sirius XM

Hedge funds and other institutional investors have recently made changes to their positions in the business. Coston McIsaac & Partners boosted its stake in Sirius XM by 113.5% in the 3rd 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. acquired a new stake in shares of Sirius XM during the second quarter worth $28,000. TCTC Holdings LLC purchased a new stake in shares of Sirius XM during the third quarter valued at $29,000. Princeton Global Asset Management LLC increased its position in shares of Sirius XM by 2,683.7% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company's stock valued at $32,000 after acquiring an additional 1,315 shares during the period. Finally, Walker Asset Management LLC acquired a new position in shares of Sirius XM in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 10.69% of the company's stock.

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.