Seaport Res Ptn Comments on Sirius XM Holdings Inc.'s FY2024 Earnings (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) - Research analysts at Seaport Res Ptn raised their FY2024 EPS estimates for shares of Sirius XM in a research report issued to clients and investors on Tuesday, April 30th. Seaport Res Ptn analyst D. Joyce now expects that the company will earn $0.27 per share for the year, up from their previous estimate of $0.26. Seaport Res Ptn has a "Buy" rating on the stock. The consensus estimate for Sirius XM's current full-year earnings is $0.30 per share.

A number of other equities research analysts have also weighed in on the company. StockNews.com initiated coverage on Sirius XM in a research report on Monday. They set a "hold" rating for the company. Citigroup upgraded shares of Sirius XM from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $4.10 to $3.30 in a report on Wednesday, April 24th. Guggenheim initiated coverage on shares of Sirius XM in a research report on Thursday, March 14th. They issued a "neutral" rating and a $4.00 price target for the company. Rosenblatt Securities cut their price objective on shares of Sirius XM from $4.50 to $3.40 and set a "neutral" rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company lowered their target price on Sirius XM from $3.00 to $2.50 and set an "underweight" rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $4.42.

Sirius XM Trading Up 2.3 %

Shares of NASDAQ SIRI traded up $0.07 during mid-day trading on Friday, reaching $3.12. The company had a trading volume of 15,348,764 shares, compared to its average volume of 15,928,434. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of 1.02 and a beta of 1.10. Sirius XM has a 52 week low of $2.92 and a 52 week high of $7.95. The business's 50-day moving average is $3.72 and its 200-day moving average is $4.56.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the business posted $0.06 earnings per share. The company's revenue for the quarter was up .8% on a year-over-year basis.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SIRI. Northern Trust Corp increased its stake in shares of Sirius XM by 18.7% in the 3rd 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 acquired a new position in shares of Sirius XM during the 4th quarter worth approximately $1,669,000. Norden Group LLC acquired a new position in shares of Sirius XM during the 4th quarter worth approximately $80,000. TIAA Trust National Association lifted its position in shares of Sirius XM by 92.9% during the 4th quarter. TIAA Trust National Association now owns 39,783 shares of the company's stock valued at $218,000 after buying an additional 19,161 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in Sirius XM by 16.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 24,392 shares of the company's stock valued at $110,000 after acquiring an additional 3,495 shares during the period. Hedge funds and other institutional investors own 10.69% of the company's stock.

Insider Transactions at Sirius XM

In related news, Director James E. Meyer sold 800,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the transaction, the director now owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The sale was disclosed in a filing with the SEC, which is available through this link. In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the company's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the sale, the director now directly 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 SEC, which is available through the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM 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 transaction, 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. Company insiders own 0.79% of the company's stock.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be issued a $0.0266 dividend. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Thursday, May 9th. Sirius XM's dividend payout ratio is presently 33.33%.

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.