Equities analysts expect Sirius XM Holdings Inc (NASDAQ:SIRI) to announce sales of $1.48 billion for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Sirius XM’s earnings, with the lowest sales estimate coming in at $1.47 billion and the highest estimate coming in at $1.50 billion. Sirius XM reported sales of $1.40 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The business is expected to report its next earnings report on Wednesday, January 30th.
According to Zacks, analysts expect that Sirius XM will report full-year sales of $5.76 billion for the current fiscal year, with estimates ranging from $5.75 billion to $5.77 billion. For the next fiscal year, analysts expect that the company will post sales of $6.08 billion, with estimates ranging from $6.04 billion to $6.15 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Sirius XM.
Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Wednesday, October 24th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Sirius XM had a negative return on equity of 78.49% and a net margin of 15.64%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 earnings per share.
A number of equities analysts have commented on the company. Zacks Investment Research raised Sirius XM from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a research note on Thursday, November 22nd. Pivotal Research reissued a “hold” rating and issued a $7.00 price objective on shares of Sirius XM in a research note on Wednesday, October 24th. ValuEngine lowered Sirius XM from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. BidaskClub raised Sirius XM from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $7.50 price objective (down previously from $8.50) on shares of Sirius XM in a research note on Tuesday, September 25th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $6.85.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Sirius XM by 5.7% during the second quarter. BlackRock Inc. now owns 78,163,054 shares of the company’s stock valued at $529,167,000 after acquiring an additional 4,249,152 shares during the period. FMR LLC lifted its stake in shares of Sirius XM by 8.8% during the second quarter. FMR LLC now owns 52,096,871 shares of the company’s stock valued at $352,695,000 after acquiring an additional 4,200,422 shares during the period. Eagle Asset Management Inc. lifted its stake in shares of Sirius XM by 2.2% during the second quarter. Eagle Asset Management Inc. now owns 16,900,331 shares of the company’s stock valued at $114,415,000 after acquiring an additional 365,343 shares during the period. Carillon Tower Advisers Inc. lifted its stake in shares of Sirius XM by 9.0% during the third quarter. Carillon Tower Advisers Inc. now owns 12,755,822 shares of the company’s stock valued at $80,616,000 after acquiring an additional 1,058,115 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Sirius XM by 107.0% during the third quarter. Renaissance Technologies LLC now owns 8,506,500 shares of the company’s stock valued at $53,761,000 after acquiring an additional 4,396,500 shares during the period. 17.31% of the stock is currently owned by institutional investors and hedge funds.
Sirius XM stock traded down $0.13 on Friday, reaching $6.19. The company’s stock had a trading volume of 31,755,703 shares, compared to its average volume of 26,364,370. The firm has a market cap of $27.98 billion, a P/E ratio of 30.95, a P/E/G ratio of 1.63 and a beta of 1.06. Sirius XM has a twelve month low of $5.17 and a twelve month high of $7.70.
The company also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 9th were paid a dividend of $0.0121 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Thursday, November 8th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.01. Sirius XM’s dividend payout ratio is 25.00%.
About Sirius XM
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.
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