$1.36 Billion in Sales Expected for Sirius XM Holdings Inc. (SIRI) This Quarter
Equities analysts forecast that Sirius XM Holdings Inc. (NASDAQ:SIRI) will announce $1.36 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Sirius XM Holdings’ earnings. The lowest sales estimate is $1.36 billion and the highest is $1.37 billion. Sirius XM Holdings reported sales of $1.28 billion in the same quarter last year, which indicates a positive year over year growth rate of 6.3%. The company is scheduled to report its next quarterly earnings results on Thursday, October 26th.
On average, analysts expect that Sirius XM Holdings will report full-year sales of $1.36 billion for the current financial year, with estimates ranging from $5.38 billion to $5.43 billion. For the next fiscal year, analysts forecast that the company will post sales of $5.72 billion per share, with estimates ranging from $5.68 billion to $5.80 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Sirius XM Holdings.
Sirius XM Holdings (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. Sirius XM Holdings had a negative return on equity of 99.07% and a net margin of 15.47%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $0.04 EPS. The firm’s revenue was up 9.1% on a year-over-year basis.
SIRI has been the topic of a number of research analyst reports. Vetr raised shares of Sirius XM Holdings from a “buy” rating to a “strong-buy” rating and set a $6.28 price target on the stock in a research report on Tuesday, June 20th. BidaskClub raised shares of Sirius XM Holdings from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Morgan Stanley lowered shares of Sirius XM Holdings from an “equal weight” rating to an “underweight” rating and set a $4.80 target price on the stock. in a report on Wednesday, April 19th. Piper Jaffray Companies set a $7.00 target price on shares of Sirius XM Holdings and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, Macquarie restated an “outperform” rating and issued a $5.85 target price on shares of Sirius XM Holdings in a report on Thursday, April 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Sirius XM Holdings has an average rating of “Buy” and a consensus target price of $5.56.
Sirius XM Holdings (SIRI) traded down 1.42% on Friday, hitting $5.56. The stock had a trading volume of 18,920,206 shares. The company has a market capitalization of $25.65 billion, a PE ratio of 32.71 and a beta of 1.11. The company has a 50 day moving average of $5.40 and a 200 day moving average of $5.11. Sirius XM Holdings has a 12-month low of $4.05 and a 12-month high of $5.89.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 10th will be paid a $0.01 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.72%. Sirius XM Holdings’s dividend payout ratio is presently 25.00%.
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Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in Sirius XM Holdings by 3,534.6% in the first quarter. BlackRock Inc. now owns 82,131,614 shares of the company’s stock valued at $422,980,000 after buying an additional 79,871,880 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Sirius XM Holdings during the first quarter worth approximately $55,871,000. Acadian Asset Management LLC acquired a new stake in shares of Sirius XM Holdings during the first quarter worth approximately $29,739,000. Credit Agricole S A boosted its stake in shares of Sirius XM Holdings by 641.1% in the first quarter. Credit Agricole S A now owns 6,219,924 shares of the company’s stock worth $32,032,000 after buying an additional 5,380,619 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Sirius XM Holdings by 12.8% in the first quarter. FMR LLC now owns 41,962,057 shares of the company’s stock worth $216,105,000 after buying an additional 4,772,837 shares in the last quarter. Hedge funds and other institutional investors own 22.03% of the company’s stock.
Sirius XM Holdings Company Profile
Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.
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