Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) – Analysts at Barrington Research reduced their Q1 2023 EPS estimates for Sirius XM in a research note issued to investors on Monday, April 24th. Barrington Research analyst J. Goss now anticipates that the company will post earnings of $0.06 per share for the quarter, down from their prior forecast of $0.07. Barrington Research currently has a “Outperform” rating on the stock. The consensus estimate for Sirius XM’s current full-year earnings is $0.31 per share. Barrington Research also issued estimates for Sirius XM’s Q1 2024 earnings at $0.07 EPS, Q2 2024 earnings at $0.08 EPS, Q3 2024 earnings at $0.09 EPS and Q4 2024 earnings at $0.10 EPS.
Other analysts have also recently issued research reports about the stock. Bank of America cut shares of Sirius XM from a “buy” rating to a “neutral” rating in a research note on Thursday, February 2nd. Pivotal Research dropped their price objective on shares of Sirius XM from $6.75 to $5.00 and set a “hold” rating for the company in a research note on Thursday, February 9th. Rosenblatt Securities cut shares of Sirius XM from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $7.40 to $4.80 in a research note on Wednesday, February 22nd. Wells Fargo & Company dropped their price objective on shares of Sirius XM from $7.00 to $5.50 and set an “equal weight” rating for the company in a research note on Friday, February 3rd. Finally, StockNews.com cut shares of Sirius XM from a “buy” rating to a “hold” rating in a research note on Tuesday, April 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.39.
Sirius XM Stock Down 1.1 %
Sirius XM (NASDAQ:SIRI – Get Rating) last released its earnings results on Thursday, February 2nd. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Sirius XM had a net margin of 13.48% and a negative return on equity of 35.45%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 earnings per share.
Hedge Funds Weigh In On Sirius XM
A number of hedge funds have recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D boosted its position in shares of Sirius XM by 18.9% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 527,614 shares of the company’s stock worth $2,095,000 after purchasing an additional 83,820 shares during the period. Fiera Capital Corp boosted its position in shares of Sirius XM by 4.3% during the 1st quarter. Fiera Capital Corp now owns 111,000 shares of the company’s stock worth $441,000 after purchasing an additional 4,550 shares during the period. Parallel Advisors LLC boosted its position in shares of Sirius XM by 53.0% during the 1st quarter. Parallel Advisors LLC now owns 30,503 shares of the company’s stock worth $121,000 after purchasing an additional 10,570 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Sirius XM during the 1st quarter worth approximately $1,344,000. Finally, NorthCrest Asset Manangement LLC purchased a new position in shares of Sirius XM during the 1st quarter worth approximately $104,000. Hedge funds and other institutional investors own 10.10% of the company’s stock.
Sirius XM Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Friday, May 5th will be given a dividend of $0.0242 per share. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.65%. Sirius XM’s payout ratio is currently 33.33%.
About Sirius XM
Sirius XM Holdings, Inc engages in the provision of audio entertainment. It operates through Sirius XM and Pandora and Off-Platform segments. The company was founded on May 17, 1990, and is headquartered in New York, NY.
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