Seaport Res Ptn Forecasts Stronger Earnings for Sirius XM

Sirius XM Holdings Inc. (NASDAQ:SIRI) – Investment analysts at Seaport Res Ptn boosted their FY2024 earnings per share (EPS) estimates for Sirius XM in a note issued to investors on Tuesday, December 10th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will earn ($6.39) per share for the year, up from their previous forecast of ($6.55). Seaport Res Ptn currently has a “Hold” rating on the stock. The consensus estimate for Sirius XM’s current full-year earnings is ($6.03) per share. Seaport Res Ptn also issued estimates for Sirius XM’s Q4 2024 earnings at $0.56 EPS, Q1 2025 earnings at $0.58 EPS, Q2 2025 earnings at $0.84 EPS, Q3 2025 earnings at $0.66 EPS, Q4 2025 earnings at $0.47 EPS, FY2025 earnings at $2.56 EPS and FY2026 earnings at $2.77 EPS.

A number of other brokerages also recently issued reports on SIRI. Rosenblatt Securities upped their price objective on shares of Sirius XM from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Sirius XM from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Guggenheim reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Sirius XM in a research report on Wednesday. Benchmark reissued a “buy” rating and set a $43.00 target price on shares of Sirius XM in a research report on Tuesday, October 15th. Finally, Bank of America reissued an “underperform” rating and set a $23.00 price objective on shares of Sirius XM in a report on Thursday, October 24th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $28.27.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $24.11 on Friday. Sirius XM has a 1-year low of $22.18 and a 1-year high of $57.80. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. The stock has a market cap of $8.18 billion, a PE ratio of -3.80 and a beta of 1.03. The stock’s fifty day simple moving average is $26.35 and its two-hundred day simple moving average is $28.56.

Sirius XM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $0.27 dividend. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date was Tuesday, November 5th. Sirius XM’s dividend payout ratio (DPR) is currently -17.03%.

Insider Activity at Sirius XM

In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was bought at an average cost of $23.55 per share, with a total value of $20,483,790.00. Following the transaction, the insider now directly owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. The trade was a 0.83 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 2,646,761 shares of company stock worth $65,952,329 over the last quarter. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Sirius XM

Several institutional investors have recently bought and sold shares of SIRI. Coston McIsaac & Partners grew its holdings in shares of Sirius XM by 113.5% during the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock valued at $27,000 after buying an additional 624 shares during the last quarter. TCTC Holdings LLC purchased a new stake in shares of Sirius XM during the third quarter valued at $29,000. Princeton Global Asset Management LLC raised its position in Sirius XM by 2,683.7% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after buying an additional 1,315 shares during the last quarter. Plato Investment Management Ltd purchased a new position in Sirius XM in the 2nd quarter worth about $35,000. Finally, Riverview Capital Advisers LLC bought a new position in Sirius XM during the 2nd quarter valued at about $35,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Company Profile

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.