Wall Street analysts expect Sirius XM Holdings Inc (NASDAQ:SIRI) to post $1.94 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Sirius XM's earnings. Sirius XM reported sales of $2.01 billion in the same quarter last year, which indicates a negative year over year growth rate of 3.5%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, October 22nd.
On average, analysts expect that Sirius XM will report full year sales of $7.76 billion for the current year, with estimates ranging from $7.72 billion to $7.81 billion. For the next year, analysts expect that the business will report sales of $8.18 billion, with estimates ranging from $8.06 billion to $8.29 billion. Zacks' sales averages are a mean average based on a survey of research analysts that cover Sirius XM.
Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, July 30th. The company reported $0.05 EPS for the quarter, hitting analysts' consensus estimates of $0.05. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. Sirius XM had a negative return on equity of 141.29% and a net margin of 12.98%. Sirius XM's quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS.
Several equities analysts have recently issued reports on SIRI shares. Benchmark upgraded Sirius XM from a "hold" rating to a "buy" rating and set a $7.00 price target on the stock in a research report on Wednesday, September 16th. Pivotal Research reaffirmed a "buy" rating and issued a $7.50 target price on shares of Sirius XM in a research report on Thursday, July 30th. Citigroup lifted their price objective on Sirius XM from $5.90 to $6.75 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on Sirius XM from $7.00 to $7.50 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Finally, Zacks Investment Research cut Sirius XM from a "buy" rating to a "hold" rating and set a $6.50 price target for the company. in a research report on Tuesday, August 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. Sirius XM has a consensus rating of "Buy" and an average target price of $7.02.
SIRI opened at $5.84 on Friday. Sirius XM has a 12 month low of $4.11 and a 12 month high of $7.40. The stock has a market cap of $25.35 billion, a P/E ratio of 26.55, a P/E/G ratio of 1.47 and a beta of 1.14. The stock's 50 day moving average price is $5.57 and its 200 day moving average price is $5.66.
Sirius XM announced that its Board of Directors has approved a stock repurchase plan on Tuesday, July 14th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 6th will be given a dividend of $0.0146 per share. This is a boost from Sirius XM's previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $0.06 annualized dividend and a dividend yield of 1.00%. Sirius XM's payout ratio is presently 25.00%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SIRI. Community Bank N.A. bought a new stake in shares of Sirius XM in the 2nd quarter valued at $29,000. Manchester Financial Inc. increased its position in shares of Sirius XM by 38.8% in the 3rd quarter. Manchester Financial Inc. now owns 9,368 shares of the company's stock valued at $50,000 after buying an additional 2,618 shares in the last quarter. Brave Asset Management Inc. bought a new position in Sirius XM during the 2nd quarter worth about $61,000. Golden State Wealth Management LLC increased its holdings in Sirius XM by 1,017.5% during the 2nd quarter. Golden State Wealth Management LLC now owns 11,175 shares of the company's stock worth $66,000 after purchasing an additional 10,175 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Sirius XM by 20.0% during the 2nd quarter. Fisher Asset Management LLC now owns 12,154 shares of the company's stock worth $71,000 after purchasing an additional 2,029 shares in the last quarter. Institutional investors and hedge funds own 16.80% of the company's stock.
About Sirius XM
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.
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