Analysts forecast that Sirius XM Holdings Inc (NASDAQ:SIRI) will announce $1.46 billion in sales for the current quarter, Zacks reports. Five analysts have made estimates for Sirius XM’s earnings, with estimates ranging from $1.45 billion to $1.47 billion. Sirius XM reported sales of $1.38 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 5.8%. The company is expected to announce its next earnings report before the market opens on Wednesday, October 24th.
According to Zacks, analysts expect that Sirius XM will report full-year sales of $5.76 billion for the current fiscal year, with estimates ranging from $5.74 billion to $5.77 billion. For the next fiscal year, analysts anticipate that the business will report sales of $6.09 billion, with estimates ranging from $6.03 billion to $6.14 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Sirius XM.
Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Wednesday, July 25th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. Sirius XM had a net margin of 14.68% and a negative return on equity of 78.24%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm earned $0.04 EPS. Sirius XM’s revenue was up 6.3% on a year-over-year basis.
SIRI has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of Sirius XM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 2nd. Macquarie restated a “buy” rating and set a $7.75 price target on shares of Sirius XM in a research report on Thursday, September 20th. Barrington Research restated a “buy” rating and set a $8.00 price target on shares of Sirius XM in a research report on Monday, September 24th. Zacks Investment Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research report on Monday, October 8th. Finally, ValuEngine downgraded shares of Sirius XM from a “buy” rating to a “hold” rating in a research report on Monday, September 24th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $6.83.
In related news, EVP Stephen Cook sold 415,502 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $7.20, for a total value of $2,991,614.40. Following the sale, the executive vice president now directly owns 1,988,300 shares in the company, valued at approximately $14,315,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of Sirius XM by 5.7% during the second quarter. BlackRock Inc. now owns 78,163,054 shares of the company’s stock valued at $529,167,000 after acquiring an additional 4,249,152 shares during the period. FMR LLC raised its holdings in shares of Sirius XM by 8.8% during the second quarter. FMR LLC now owns 52,096,871 shares of the company’s stock valued at $352,695,000 after acquiring an additional 4,200,422 shares during the period. Eagle Asset Management Inc. raised its holdings in shares of Sirius XM by 2.2% during the second quarter. Eagle Asset Management Inc. now owns 16,900,331 shares of the company’s stock valued at $114,415,000 after acquiring an additional 365,343 shares during the period. Carillon Tower Advisers Inc. raised its holdings in shares of Sirius XM by 4.5% during the second quarter. Carillon Tower Advisers Inc. now owns 11,697,707 shares of the company’s stock valued at $79,193,000 after acquiring an additional 501,219 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Sirius XM by 3.1% during the first quarter. Legal & General Group Plc now owns 7,358,258 shares of the company’s stock valued at $45,892,000 after acquiring an additional 218,455 shares during the period. Institutional investors and hedge funds own 18.55% of the company’s stock.
Shares of SIRI stock traded down $0.15 during midday trading on Friday, reaching $6.01. 27,174,409 shares of the company were exchanged, compared to its average volume of 33,018,374. Sirius XM has a 12 month low of $5.17 and a 12 month high of $7.70. The company has a market capitalization of $27.67 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 1.66 and a beta of 1.03. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of -4.70.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 9th will be issued a $0.0121 dividend. This is an increase from Sirius XM’s previous quarterly dividend of $0.01. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Thursday, November 8th. Sirius XM’s payout ratio is presently 20.00%.
Sirius XM Company Profile
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to 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.
Further Reading: Buyback For Investors Defined
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