B. Riley Weighs in on Sirius XM Holdings Inc’s FY2021 Earnings (NASDAQ:SIRI)

Sirius XM Holdings Inc (NASDAQ:SIRI) – Stock analysts at B. Riley reduced their FY2021 EPS estimates for Sirius XM in a research report issued on Monday, January 6th, according to Zacks Investment Research. B. Riley analyst Z. Silver now anticipates that the company will post earnings of $0.31 per share for the year, down from their prior estimate of $0.32. B. Riley also issued estimates for Sirius XM’s FY2022 earnings at $0.36 EPS.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.98 billion. Sirius XM had a negative return on equity of 129.67% and a net margin of 12.76%. The business’s revenue was up 37.1% on a year-over-year basis. During the same period last year, the company earned $0.07 EPS.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of Sirius XM from an “underweight” rating to an “overweight” rating in a research report on Thursday, January 2nd. Zacks Investment Research raised shares of Sirius XM from a “sell” rating to a “hold” rating and set a $7.25 target price for the company in a report on Monday, November 4th. Pivotal Research reaffirmed a “buy” rating and issued a $8.25 target price on shares of Sirius XM in a report on Tuesday, January 7th. Benchmark assumed coverage on shares of Sirius XM in a report on Wednesday, October 9th. They issued a “hold” rating and a $8.00 target price for the company. Finally, Barrington Research reissued a “buy” rating and set a $8.00 price objective on shares of Sirius XM in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $7.61.

NASDAQ SIRI opened at $7.17 on Tuesday. Sirius XM has a fifty-two week low of $5.23 and a fifty-two week high of $7.20. The firm has a market capitalization of $31.45 billion, a P/E ratio of 27.58, a PEG ratio of 2.81 and a beta of 1.01. The stock has a 50-day simple moving average of $7.02 and a two-hundred day simple moving average of $6.48.

In other Sirius XM news, insider Scott Andrew Greenstein sold 231,992 shares of Sirius XM stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $6.77, for a total value of $1,570,585.84. Following the completion of the sale, the insider now directly owns 945,740 shares of the company’s stock, valued at approximately $6,402,659.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James E. Meyer sold 716,549 shares of Sirius XM stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $7.01, for a total transaction of $5,023,008.49. Following the completion of the sale, the chief executive officer now directly owns 2,690,980 shares of the company’s stock, valued at $18,863,769.80. The disclosure for this sale can be found here. Insiders sold a total of 3,168,885 shares of company stock valued at $21,820,069 over the last ninety days. 0.93% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Bartlett & Co. LLC acquired a new position in shares of Sirius XM in the 3rd quarter valued at $31,000. Point72 Hong Kong Ltd acquired a new position in shares of Sirius XM in the 2nd quarter valued at $29,000. Rockefeller Capital Management L.P. boosted its holdings in shares of 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 purchasing an additional 4,541 shares during the last quarter. Strategic Blueprint LLC acquired a new position in shares of Sirius XM in the 3rd quarter valued at $47,000. Finally, CSat Investment Advisory L.P. acquired a new position in shares of Sirius XM in the 2nd quarter valued at $45,000. 17.75% of the stock is owned by hedge funds and other institutional investors.

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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