Equities research analysts expect Sirius XM Holdings Inc (NASDAQ:SIRI) to post $1.98 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Sirius XM’s earnings. The highest sales estimate is $1.99 billion and the lowest is $1.95 billion. Sirius XM reported sales of $1.47 billion during the same quarter last year, which indicates a positive year over year growth rate of 34.7%. The company is expected to announce its next earnings results before the market opens on Thursday, October 31st.
On average, analysts expect that Sirius XM will report full-year sales of $7.79 billion for the current year, with estimates ranging from $7.71 billion to $7.90 billion. For the next fiscal year, analysts forecast that the firm will report sales of $8.23 billion, with estimates ranging from $8.08 billion to $8.35 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Sirius XM.
Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.93 billion. Sirius XM had a net margin of 15.25% and a negative return on equity of 117.72%. Sirius XM’s quarterly revenue was up 38.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS.
SIRI has been the topic of a number of research analyst reports. Pivotal Research reissued a “buy” rating and issued a $7.70 price target on shares of Sirius XM in a research note on Friday, August 9th. Wells Fargo & Co initiated coverage on shares of Sirius XM in a research note on Monday, September 23rd. They issued an “outperform” rating and a $8.00 price target on the stock. Benchmark initiated coverage on shares of Sirius XM in a research note on Wednesday, October 9th. They issued a “hold” rating and a $8.00 price target on the stock. ValuEngine cut shares of Sirius XM from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub cut shares of Sirius XM from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $7.32.
Shares of NASDAQ SIRI opened at $6.43 on Wednesday. The stock has a market capitalization of $28.61 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 2.58 and a beta of 1.01. Sirius XM has a 12 month low of $5.23 and a 12 month high of $6.51. The firm’s 50 day simple moving average is $6.30 and its 200-day simple moving average is $5.95. The company has a debt-to-equity ratio of 46.63, a current ratio of 0.33 and a quick ratio of 0.33.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 8th will be issued a $0.0133 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.05 dividend on an annualized basis and a yield of 0.83%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.01. Sirius XM’s dividend payout ratio (DPR) is presently 19.23%.
In other news, insider Jennifer C. Witz sold 504,830 shares of Sirius XM stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $6.02, for a total transaction of $3,039,076.60. Following the transaction, the insider now owns 913,904 shares in the company, valued at approximately $5,501,702.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas D. Barry sold 164,715 shares of Sirius XM stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $5.99, for a total value of $986,642.85. Following the transaction, the vice president now owns 265,735 shares in the company, valued at approximately $1,591,752.65. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in shares of Sirius XM during the 2nd quarter worth about $29,000. Rockefeller Capital Management L.P. grew its position in Sirius XM by 533.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 5,393 shares of the company’s stock valued at $30,000 after acquiring an additional 4,541 shares in the last quarter. Coastal Capital Group Inc. acquired a new position in Sirius XM in the 2nd quarter valued at about $32,000. Westside Investment Management Inc. acquired a new position in Sirius XM in the 2nd quarter valued at about $37,000. Finally, Manchester Financial Inc. acquired a new position in Sirius XM in the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 18.91% of the company’s stock.
Sirius XM Company Profile
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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