Sirius XM (NASDAQ:SIRI) Issues Earnings Results, Beats Estimates By $0.01 EPS

Sirius XM (NASDAQ:SIRI) issued its quarterly earnings data on Tuesday. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01, Briefing.com reports. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 EPS. Sirius XM updated its FY 2024 guidance to EPS.

Sirius XM Stock Up 1.3 %

NASDAQ:SIRI opened at $3.09 on Thursday. Sirius XM has a 1-year low of $2.92 and a 1-year high of $7.95. The firm has a market capitalization of $11.89 billion, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 1.00 and a beta of 1.10. The stock has a fifty day simple moving average of $3.75 and a 200 day simple moving average of $4.57.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be given a $0.0266 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.44%. Sirius XM’s dividend payout ratio (DPR) is 33.33%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SIRI. Guggenheim assumed coverage on Sirius XM in a research note on Thursday, March 14th. They set a “neutral” rating and a $4.00 price objective for the company. The Goldman Sachs Group raised Sirius XM from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $3.50 to $3.25 in a research note on Wednesday. Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and decreased their price target for the stock from $5.05 to $4.90 in a research note on Wednesday, April 24th. Seaport Res Ptn raised Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday. Finally, StockNews.com initiated coverage on Sirius XM in a report on Monday. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.42.

Insider Activity at Sirius XM

In related news, insider Joseph A. Inzerillo sold 107,611 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the transaction, the insider now owns 746,816 shares in the company, valued at approximately $3,659,398.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the completion of the sale, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the sale, the insider now owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.

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.