Sirius XM FY2024 EPS Forecast Boosted by Seaport Res Ptn

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Stock analysts at Seaport Res Ptn lifted their FY2024 earnings per share estimates for shares of Sirius XM in a research note issued on Tuesday, December 10th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will earn ($6.39) per share for the year, up from their prior estimate of ($6.55). Seaport Res Ptn has a “Hold” rating on the stock. The consensus estimate for Sirius XM’s current full-year earnings is ($6.03) per share. Seaport Res Ptn also issued estimates for Sirius XM’s Q4 2024 earnings at $0.56 EPS, Q1 2025 earnings at $0.58 EPS, Q2 2025 earnings at $0.84 EPS, Q3 2025 earnings at $0.66 EPS, Q4 2025 earnings at $0.47 EPS, FY2025 earnings at $2.56 EPS and FY2026 earnings at $2.77 EPS.

A number of other brokerages have also commented on SIRI. JPMorgan Chase & Co. upped their price objective on Sirius XM from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Bank of America reaffirmed an “underperform” rating and issued a $23.00 price objective on shares of Sirius XM in a report on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Sirius XM in a report on Tuesday, October 15th. Pivotal Research decreased their price objective on Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, StockNews.com initiated coverage on Sirius XM in a research report on Wednesday, November 13th. They issued a “sell” rating on the stock. Six research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Sirius XM presently has a consensus rating of “Hold” and an average target price of $28.27.

Sirius XM Stock Down 2.8 %

SIRI opened at $24.11 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. The stock’s fifty day simple moving average is $26.32 and its 200 day simple moving average is $28.58. Sirius XM has a 1-year low of $22.18 and a 1-year high of $57.80. The stock has a market cap of $8.18 billion, a PE ratio of -3.84 and a beta of 1.03.

Institutional Trading of Sirius XM

Hedge funds have recently made changes to their positions in the company. Coston McIsaac & Partners lifted its stake in shares of Sirius XM by 113.5% in the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after acquiring an additional 624 shares during the period. TCTC Holdings LLC acquired a new position in shares of Sirius XM in the third quarter worth approximately $29,000. Bfsg LLC lifted its stake in shares of Sirius XM by 35.3% in the third quarter. Bfsg LLC now owns 4,735 shares of the company’s stock worth $112,000 after acquiring an additional 1,235 shares during the period. Princeton Global Asset Management LLC lifted its stake in shares of Sirius XM by 2,683.7% in the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after acquiring an additional 1,315 shares during the period. Finally, Larson Financial Group LLC lifted its stake in shares of Sirius XM by 139.8% in the third quarter. Larson Financial Group LLC now owns 3,187 shares of the company’s stock worth $75,000 after acquiring an additional 1,858 shares during the period. 10.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sirius XM

In other news, major shareholder Berkshire Hathaway Inc purchased 175,569 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were purchased at an average cost of $27.43 per share, with a total value of $4,815,857.67. Following the completion of the purchase, the insider now owns 110,276,790 shares of the company’s stock, valued at $3,024,892,349.70. This trade represents a 0.16 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders have acquired a total of 2,646,761 shares of company stock worth $65,952,329 over the last 90 days. Insiders own 0.79% of the company’s stock.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date was Tuesday, November 5th. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s payout ratio is currently -17.03%.

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.