Sirius XM Holdings Inc’s (NASDAQ: SIRI) Stock’s Potential for Future Price Increase

In the latest trading session, 3.57 million Sirius XM Holdings Inc (NASDAQ:SIRI) shares changed hands as the company’s beta touched 1.08. With the company’s most recent per share price at $4.86 changed hands at -$0.28 or -5.45% at last look, the market valuation stands at $18.66B. SIRI’s current price is a discount, trading about -63.58% off its 52-week high of $7.95. The share price had its 52-week low at $3.32, which suggests the last value was 31.69% up since then. When we look at Sirius XM Holdings Inc’s average trading volume, we note the 10-day average is 11.02 million shares, with the 3-month average coming to 14.92 million.

Analysts gave the Sirius XM Holdings Inc (SIRI) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.43. If we narrow down to specifics, the data shows that 4 out of 14 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended SIRI as a Hold, 2 felt it is a Buy and 2 rated the stock as Underweight. Sirius XM Holdings Inc’s EPS for the current quarter is expected to be $0.08.

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Sirius XM Holdings Inc (NASDAQ:SIRI) trade information

Instantly SIRI was in red as seen in intraday trades today. With action -0.61%, the performance over the past five days has been red. The drop to weekly highs of 5.62 on Monday, 11/20/23 subtracted -5.45% to the stock’s daily price. The company’s shares are showing year-to-date downside of -16.78%, with the 5-day performance at -0.61% in the red. However, in the 30-day time frame, Sirius XM Holdings Inc (NASDAQ:SIRI) is 8.48% up. Looking at the short shares, we see there were 171.09 million shares sold at short interest cover period of 14.59 days.

The consensus price target for the stock as assigned by Wall Street analysts is $4.89, meaning bulls need an upside of 0.61% from its recent market value. According to analyst projections, SIRI’s forecast low is $3.50 with $7.00 as the target high. To hit the forecast high, the stock’s price needs a -44.03% plunge from its current level, while the stock would need to tank 27.98% for it to hit the projected low.

Sirius XM Holdings Inc (SIRI) estimates and forecasts

Data shows that the Sirius XM Holdings Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 37.68% over the past 6 months, a -3.13% in annual growth rate that is considerably higher than the industry average of -14.60%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Sirius XM Holdings Inc will fall -11.10%. Year-over-year growth is forecast to reach -0.50% down from the last financial year.

Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of $2.3 billion. 4 analysts are of the opinion that Sirius XM Holdings Inc’s revenue for the quarter ending Mar 2024 will be $2.2 billion. The company’s revenue for the corresponding quarters a year ago was $2.28 billion and $2.14 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 0.70%. The estimates for the next quarter sales put growth at 2.50%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 16.85%. The 2023 estimates are for Sirius XM Holdings Inc earnings to decrease by -0.58%, but the outlook for the next 5-year period is at 7.54% per year.

SIRI Dividends

Sirius XM Holdings Inc is expected to release its next quarterly earnings report between January 31 and February 05. The 2.05% annual yield figure for the share gives it an annual dividend of 0.10. It is important to note, however, that the 2.05% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Sirius XM Holdings Inc (NASDAQ:SIRI)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 83.60% of Sirius XM Holdings Inc shares while 12.89% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 78.64%. There are 12.89% institutions holding the Sirius XM Holdings Inc stock share, with Vanguard Group Inc the top institutional holder. As of Sep 29, 2023, the company held 1.41% of the shares, roughly 54.32 million SIRI shares worth $264.53 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 1.16% or 44.66 million shares worth $217.51 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were Invesco ETF Tr-Invesco QQQ Tr, Series 1 ETF and Pacer U.S. Cash Cows 100 ETF. With 65.56 million shares estimated at $319.27 million under it, the former controlled 1.71% of total outstanding shares. On the other hand, Pacer U.S. Cash Cows 100 ETF held about 0.66% of the shares, roughly 25.51 million shares worth around $124.23 million.

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