Sirius XM Holdings Inc. Expected to Earn Q2 2024 Earnings of $0.07 Per Share (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Investment analysts at Barrington Research cut their Q2 2024 earnings per share estimates for Sirius XM in a research report issued on Tuesday, April 23rd. Barrington Research analyst J. Goss now expects that the company will post earnings of $0.07 per share for the quarter, down from their previous estimate of $0.08. The consensus estimate for Sirius XM’s current full-year earnings is $0.29 per share. Barrington Research also issued estimates for Sirius XM’s Q4 2025 earnings at $0.09 EPS, FY2025 earnings at $0.35 EPS and FY2026 earnings at $0.35 EPS.

SIRI has been the subject of a number of other research reports. Guggenheim initiated coverage on Sirius XM in a report on Thursday, March 14th. They issued a “neutral” rating and a $4.00 target price for the company. Wells Fargo & Company lowered their price objective on Sirius XM from $4.50 to $3.00 and set an “underweight” rating for the company in a research note on Monday, April 1st. Pivotal Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and cut their target price for the stock from $5.05 to $4.90 in a research report on Wednesday. Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their price target for the company from $4.10 to $3.30 in a research note on Wednesday. Finally, Benchmark cut their price objective on Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Sirius XM has an average rating of “Hold” and a consensus price target of $4.67.

Sirius XM Stock Performance

Shares of SIRI opened at $3.16 on Wednesday. Sirius XM has a 52 week low of $3.04 and a 52 week high of $7.95. The stock has a market capitalization of $12.15 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 1.06 and a beta of 1.04. The stock has a fifty day moving average of $3.92 and a 200-day moving average of $4.62.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.30 billion. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%.

Hedge Funds Weigh In On Sirius XM

Several hedge funds have recently made changes to their positions in SIRI. Northern Trust Corp raised its stake in Sirius XM by 18.7% in the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock valued at $50,878,000 after purchasing an additional 1,776,700 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Sirius XM during the fourth quarter valued at approximately $1,669,000. O Shaughnessy Asset Management LLC raised its stake in shares of Sirius XM by 16.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 24,392 shares of the company’s stock worth $110,000 after acquiring an additional 3,495 shares in the last quarter. TIAA Trust National Association lifted its holdings in shares of Sirius XM by 92.9% in the 4th quarter. TIAA Trust National Association now owns 39,783 shares of the company’s stock worth $218,000 after acquiring an additional 19,161 shares during the last quarter. Finally, ING Groep NV bought a new stake in Sirius XM in the third quarter worth $2,110,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director James E. Meyer sold 800,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now directly owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the sale, the insider now owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

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.