Sirius XM Holdings Inc. to Post Q2 2023 Earnings of $0.08 Per Share, Barrington Research Forecasts (NASDAQ:SIRI)

Posted by on May 5th, 2023

Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) – Analysts at Barrington Research boosted their Q2 2023 earnings per share (EPS) estimates for shares of Sirius XM in a research report issued on Wednesday, May 3rd. Barrington Research analyst J. Goss now forecasts that the company will post earnings of $0.08 per share for the quarter, up from their previous estimate of $0.07. The consensus estimate for Sirius XM’s current full-year earnings is $0.30 per share. Barrington Research also issued estimates for Sirius XM’s Q1 2024 earnings at $0.06 EPS, Q4 2024 earnings at $0.09 EPS, FY2024 earnings at $0.32 EPS and FY2025 earnings at $0.36 EPS.

Sirius XM (NASDAQ:SIRI – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Sirius XM had a negative return on equity of 34.09% and a net margin of 12.69%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the business posted $0.08 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year.

Several other equities analysts have also recently issued reports on the company. Rosenblatt Securities cut Sirius XM from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $7.40 to $4.80 in a research report on Wednesday, February 22nd. Wells Fargo & Company lowered their target price on 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. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Sirius XM from $7.50 to $6.25 and set a “buy” rating on the stock in a research note on Monday, February 6th. Benchmark restated a “buy” rating and issued a $7.00 price target on shares of Sirius XM in a research report on Thursday, March 9th. Finally, StockNews.com lowered 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 assigned a buy rating to the stock. According to MarketBeat.com, Sirius XM currently has an average rating of “Hold” and an average target price of $5.06.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $3.59 on Thursday. Sirius XM has a 1 year low of $3.32 and a 1 year high of $6.85. The company has a market capitalization of $13.91 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 2.14 and a beta of 0.95. The business has a 50-day moving average of $3.89 and a two-hundred day moving average of $5.18.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its stake in shares of Sirius XM by 1.2% during the first quarter. PNC Financial Services Group Inc. now owns 149,557 shares of the company’s stock worth $989,000 after acquiring an additional 1,845 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in Sirius XM during the 1st quarter valued at $115,000. Rhumbline Advisers grew its position in shares of Sirius XM by 0.5% during the 1st quarter. Rhumbline Advisers now owns 1,050,105 shares of the company’s stock worth $6,952,000 after buying an additional 4,947 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Sirius XM by 49.7% in the first quarter. Allianz Asset Management GmbH now owns 47,596 shares of the company’s stock worth $315,000 after acquiring an additional 15,809 shares in the last quarter. Finally, Prudential PLC purchased a new position in shares of Sirius XM in the first quarter worth about $293,000. Institutional investors and hedge funds own 10.10% of the company’s stock.

Sirius XM Announces Dividend

The business also recently announced 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 2.70%. Sirius XM’s payout ratio is presently 32.14%.

About Sirius XM

(Get Rating)

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.

Featured Stories

Earnings History and Estimates for Sirius XM (NASDAQ:SIRI)

Receive News & Ratings for Sirius XM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sirius XM and related companies with MarketBeat.com's FREE daily email newsletter.