Sirius XM Holdings Inc. to Post Q2 2024 Earnings of $0.07 Per Share, Barrington Research Forecasts (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) - Investment analysts at Barrington Research decreased their Q2 2024 earnings per share (EPS) estimates for shares of Sirius XM in a research report issued on Tuesday, April 23rd. Barrington Research analyst J. Goss now anticipates that the company will post earnings of $0.07 per share for the quarter, down from their prior forecast 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.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.02. The business had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.30 billion. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%.

SIRI has been the topic of a number of other reports. 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 report on Wednesday, March 27th. StockNews.com began coverage on Sirius XM in a research report on Sunday. They set a "hold" rating on the stock. Guggenheim began coverage on Sirius XM in a research report on Thursday, March 14th. They set a "neutral" rating and a $4.00 price target on the stock. Citigroup upgraded 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 report on Wednesday. Finally, Wells Fargo & Company dropped their price target on Sirius XM from $4.50 to $3.00 and set an "underweight" rating on the stock in a research report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $4.67.

Sirius XM Stock Performance

Sirius XM stock remained flat at $3.16 during trading hours on Wednesday. The company's stock had a trading volume of 17,834,045 shares, compared to its average volume of 14,998,628. The stock has a 50-day simple moving average of $3.96 and a 200-day simple moving average of $4.63. The stock has a market cap of $12.15 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 1.06 and a beta of 1.04. Sirius XM has a 1-year low of $3.04 and a 1-year high of $7.95.

Insider Transactions at Sirius XM

In other news, insider Joseph A. Inzerillo sold 107,611 shares of the business's stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the transaction, the insider now owns 746,816 shares in the company, valued at $3,659,398.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sirius XM 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 transaction of $3,936,000.00. Following the completion of the sale, the director now owns 1,091,472 shares of the company's stock, valued at $5,370,042.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of the business's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the sale, the insider now directly 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. Company insiders own 0.79% of the company's stock.

Institutional Trading of Sirius XM

Several hedge funds have recently bought and sold shares of SIRI. Berkshire Hathaway Inc grew its holdings in Sirius XM by 315.6% during the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company's stock valued at $220,130,000 after purchasing an additional 30,559,834 shares during the period. AQR Capital Management LLC boosted its stake in shares of Sirius XM by 482.9% in the third quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company's stock worth $66,178,000 after acquiring an additional 12,129,166 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Sirius XM by 169.6% in the third quarter. New York State Common Retirement Fund now owns 10,303,486 shares of the company's stock worth $46,572,000 after acquiring an additional 6,482,109 shares during the period. Cadian Capital Management LP bought a new position in shares of Sirius XM in the third quarter worth about $8,929,000. Finally, Northern Trust Corp boosted its stake in shares of Sirius XM by 18.7% in the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company's stock worth $50,878,000 after acquiring an additional 1,776,700 shares during the period. 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.