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Sirius XM (SIRI) to Cover Super Bowl LVIII Week on Feb 6-12
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Sirius XM (SIRI - Free Report) recently announced that it will be covering the Super Bowl LVIII Week on Feb 6-12, which will be available to subscribers on SiriusXM radios in their cars and on the SXM App.
SiriusXM NFL Radio, which will be hosted by Tim Brown, Rich Gannon, Torry Holt and many others, will conduct live interviews from the red carpet while Amber Theoharis will present interviews with players and personalities throughout the week.
The event will also offer performances by Rihanna during the Apple Music Super Bowl LVII Halftime Show, which will have major traction.
The super bowl 2022 attracted an average of more than 112 million viewers across TV and streaming, which portrays the craze fans have towards the game. Hence it is anticipated that the sport would draw Super Bowl fans to Sirius XM’s platform and experience a good level of engagement.
Sirius XM Strengthens Its Content Offerings Amid Macroeconomic Challenges
Sirius XM has been taking efforts to strengthen its content base for its subscribers. For this, it expanded its relationship with the NFL to make SiriusXM the exclusive third-party home to all NFL games. NFL is one of the most cherished sports in America could boost the user base for the company.
Besides sports programming, Sirius XM launched its original comedy channel Team Coco Radio, which is produced by Conan O'Brien and features exclusive audio content.
The company has also been focused on expanding its podcast offerings while doubling down on the shows that have been successful, such as Crime Junkie, Office Ladies, Dateline NBC, Pod Save America and others.
Despite such an exciting slate, Sirius XM has been losing its share value, which declined 12.3% in the past year compared with the Zacks Consumer Discretionary sector, which fell 18.6% in the same time frame.
The lack of investors’ faith in the company is primarily due to the macroeconomic headwinds it is facing, such as a slowed advertisement market that caused Sirius XM’s ad revenues to be flat in the fourth quarter of fiscal 2022.
In the above-mentioned quarter, SiriusXM's new and used car trial starts were also down 3% and 7%, respectively, due to the decline in demand for cars caused by rising costs of car equipment and oil.
These headwinds are expected to continue in the near future as well, which could be a barrier to the growth of Sirius XM.
Some better-ranked stocks in the same sector are Manchester United (MANU - Free Report) , Stride (LRN - Free Report) and BJ’s Wholesale Club (BJ - Free Report) , each sporting a Zacks Rank #1 (Strong Buy).
Shares of Manchester United have gained 64.4% in the past year. The Zacks Consensus Estimate for earnings is pegged at a loss of 1 cent, which has been constant over the past 30 days.
Shares of Stride have gained 19.4% in the past year. Its earnings are estimated at $1.08 per share, which increased by 13.6% over the past 30 days.
Shares of BJ’s Wholesale Club have increased 22.2% in the past year. Its earnings are estimated at 84 cents per share, which has been constant over the past month.
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Sirius XM (SIRI) to Cover Super Bowl LVIII Week on Feb 6-12
Sirius XM (SIRI - Free Report) recently announced that it will be covering the Super Bowl LVIII Week on Feb 6-12, which will be available to subscribers on SiriusXM radios in their cars and on the SXM App.
SiriusXM NFL Radio, which will be hosted by Tim Brown, Rich Gannon, Torry Holt and many others, will conduct live interviews from the red carpet while Amber Theoharis will present interviews with players and personalities throughout the week.
The event will also offer performances by Rihanna during the Apple Music Super Bowl LVII Halftime Show, which will have major traction.
The super bowl 2022 attracted an average of more than 112 million viewers across TV and streaming, which portrays the craze fans have towards the game. Hence it is anticipated that the sport would draw Super Bowl fans to Sirius XM’s platform and experience a good level of engagement.
Sirius XM Strengthens Its Content Offerings Amid Macroeconomic Challenges
Sirius XM has been taking efforts to strengthen its content base for its subscribers. For this, it expanded its relationship with the NFL to make SiriusXM the exclusive third-party home to all NFL games. NFL is one of the most cherished sports in America could boost the user base for the company.
Besides sports programming, Sirius XM launched its original comedy channel Team Coco Radio, which is produced by Conan O'Brien and features exclusive audio content.
The company has also been focused on expanding its podcast offerings while doubling down on the shows that have been successful, such as Crime Junkie, Office Ladies, Dateline NBC, Pod Save America and others.
Despite such an exciting slate, Sirius XM has been losing its share value, which declined 12.3% in the past year compared with the Zacks Consumer Discretionary sector, which fell 18.6% in the same time frame.
Sirius XM Holdings Inc. Price and Consensus
Sirius XM Holdings Inc. price-consensus-chart | Sirius XM Holdings Inc. Quote
The lack of investors’ faith in the company is primarily due to the macroeconomic headwinds it is facing, such as a slowed advertisement market that caused Sirius XM’s ad revenues to be flat in the fourth quarter of fiscal 2022.
In the above-mentioned quarter, SiriusXM's new and used car trial starts were also down 3% and 7%, respectively, due to the decline in demand for cars caused by rising costs of car equipment and oil.
These headwinds are expected to continue in the near future as well, which could be a barrier to the growth of Sirius XM.
Zack Rank & Stocks to Consider
Sirius XM currently has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the same sector are Manchester United (MANU - Free Report) , Stride (LRN - Free Report) and BJ’s Wholesale Club (BJ - Free Report) , each sporting a Zacks Rank #1 (Strong Buy).
Shares of Manchester United have gained 64.4% in the past year. The Zacks Consensus Estimate for earnings is pegged at a loss of 1 cent, which has been constant over the past 30 days.
Shares of Stride have gained 19.4% in the past year. Its earnings are estimated at $1.08 per share, which increased by 13.6% over the past 30 days.
Shares of BJ’s Wholesale Club have increased 22.2% in the past year. Its earnings are estimated at 84 cents per share, which has been constant over the past month.