Sirius XM (SIRI) Scheduled to Post Earnings on Thursday

Sirius XM (NASDAQ:SIRI) will release its earnings data before the market opens on Thursday, October 31st. Analysts expect Sirius XM to post earnings of $0.82 per share for the quarter. Sirius XM has set its FY 2024 guidance at EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. On average, analysts expect Sirius XM to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Sirius XM Stock Performance

Shares of Sirius XM stock opened at $27.65 on Wednesday. The stock has a market capitalization of $10.65 billion, a P/E ratio of 8.38, a P/E/G ratio of 0.73 and a beta of 1.07. Sirius XM has a 52-week low of $22.18 and a 52-week high of $57.80. The stock’s 50-day simple moving average is $26.81 and its 200 day simple moving average is $29.44.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a $0.27 dividend. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, November 5th. This represents a $1.08 annualized dividend and a dividend yield of 3.91%. Sirius XM’s dividend payout ratio (DPR) is presently 32.73%.

Insider Buying and Selling at Sirius XM

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the transaction, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the stock in a transaction dated Wednesday, October 9th. The stock was acquired at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the acquisition, the insider now owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 2,646,761 shares of company stock worth $65,952,329 over the last three months. 0.79% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on SIRI shares. Guggenheim upgraded 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 note on Wednesday, September 18th. Morgan Stanley reiterated an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a research report on Tuesday, September 24th. Barrington Research reissued an “outperform” rating and set a $47.50 price objective on shares of Sirius XM in a report on Monday, July 15th. Citigroup raised their target price on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group decreased their price target on Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 17th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.62.

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.