Q4 Earnings Forecast for Sirius XM Issued By Seaport Res Ptn

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Stock analysts at Seaport Res Ptn cut their Q4 2024 earnings estimates for shares of Sirius XM in a research note issued to investors on Thursday, October 31st. Seaport Res Ptn analyst D. Joyce now expects that the company will earn $0.41 per share for the quarter, down from their prior forecast of $0.54. The consensus estimate for Sirius XM’s current full-year earnings is $3.04 per share.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. assumed coverage on Sirius XM in a research report on Wednesday, October 9th. They issued an “underweight” rating and a $20.00 target price for the company. StockNews.com initiated coverage on shares of Sirius XM in a report on Tuesday. They issued a “hold” rating for the company. Pivotal Research reduced their target price on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Friday. Benchmark reiterated a “buy” rating and issued a $43.00 target price on shares of Sirius XM in a research report on Tuesday, October 15th. Finally, Bank of America restated an “underperform” rating and set a $23.00 price target on shares of Sirius XM in a research report on Thursday, October 24th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sirius XM presently has a consensus rating of “Hold” and an average target price of $28.88.

Sirius XM Trading Down 6.2 %

NASDAQ SIRI opened at $25.93 on Monday. The stock’s 50-day simple moving average is $26.42 and its two-hundred day simple moving average is $29.32. Sirius XM has a twelve month low of $22.18 and a twelve month high of $57.80. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $9.98 billion, a price-to-earnings ratio of -4.09, a PEG ratio of 1.32 and a beta of 1.04.

Institutional Investors Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Supplemental Annuity Collective Trust of NJ bought a new stake in Sirius XM during the third quarter worth about $347,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Sirius XM during the third quarter valued at approximately $1,707,000. Rocky Mountain Advisers LLC boosted its position in shares of Sirius XM by 48,545.9% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 206,745 shares of the company’s stock worth $4,890,000 after purchasing an additional 206,320 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Sirius XM in the 3rd quarter worth approximately $318,000. Finally, TCTC Holdings LLC bought a new position in Sirius XM during the 3rd quarter valued at approximately $29,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sirius XM

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the transaction, the insider now owns 98,933 shares in the company, valued at $3,126,282.80. This 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 through this hyperlink. In other news, major shareholder Berkshire Hathaway Inc acquired 175,569 shares of the business’s stock in a transaction on Friday, October 18th. The shares were acquired at an average cost of $27.43 per share, with a total value of $4,815,857.67. Following the transaction, the insider now owns 110,276,790 shares in the company, valued at $3,024,892,349.70. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Scott Andrew Greenstein sold 144,723 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was 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 of the company’s stock, valued at $3,126,282.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired a total of 2,646,761 shares of company stock worth $65,952,329 in the last 90 days. Company insiders own 0.79% of the company’s stock.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a dividend yield of 4.17%. Sirius XM’s dividend payout ratio (DPR) is presently -16.72%.

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.