Sirius XM (SIRI) Set to Announce Quarterly Earnings on Thursday

Sirius XM (NASDAQ:SIRI) is scheduled to be releasing its earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $0.82 per share for the quarter. Sirius XM has set its FY 2024 guidance at EPS.Parties interested in registering for the company’s conference call can do so using this link.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. On average, analysts expect Sirius XM to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Sirius XM Stock Performance

Shares of NASDAQ SIRI opened at $27.65 on Wednesday. The company’s 50 day moving average price is $26.81 and its 200-day moving average price is $29.44. Sirius XM has a 52-week low of $22.18 and a 52-week high of $57.80. The company has a market capitalization of $10.65 billion, a P/E ratio of 8.38, a price-to-earnings-growth ratio of 0.73 and a beta of 1.07.

Sirius XM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $0.27 dividend. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $1.08 annualized dividend and a yield of 3.91%. Sirius XM’s payout ratio is presently 32.73%.

Analyst Ratings Changes

Several research analysts have recently weighed in on SIRI shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Rosenblatt Securities reissued a “neutral” rating and issued a $28.00 price target on shares of Sirius XM in a research note on Tuesday. Barrington Research restated an “outperform” rating and set a $47.50 price target on shares of Sirius XM in a report on Monday, July 15th. JPMorgan Chase & Co. started coverage on shares of Sirius XM in a research note on Wednesday, October 9th. They issued an “underweight” rating and a $20.00 price objective for the company. Finally, Morgan Stanley reissued an “underweight” rating and set a $23.00 target price on shares of Sirius XM in a research note on Tuesday, September 24th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.62.

Insider Buying and Selling at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were bought at an average price of $27.43 per share, for a total transaction of $4,815,857.67. Following the completion of the acquisition, the insider now directly owns 110,276,790 shares of the company’s stock, valued at $3,024,892,349.70. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of Sirius XM stock in a transaction dated Friday, October 18th. The stock was purchased at an average price of $27.43 per share, for a total transaction of $4,815,857.67. Following the purchase, the insider now directly owns 110,276,790 shares in the company, valued at $3,024,892,349.70. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the transaction, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 2,646,761 shares of company stock worth $65,952,329. Insiders own 0.79% of the company’s stock.

About Sirius XM

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company’s Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.