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Here's Why You Should Hold onto Sirius XM (SIRI) for Now
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Shares of Sirius XM Holdings Inc. (SIRI - Free Report) have outperformed the Zacks categorized Broadcast- Radio-TV industry over the last three months. The stock rallied 17.53% compared with the industry‘s gain of 13.11% over the same period.
Sirius XM’s net subscriber growth is encouraging. The company added over 1.75 million new subscribers in 2016, ending the year with a user base of approximately 31.3 million. The company is expected to witness further subscriber growth this year. Its efforts to expand its product portfolio also raise optimism. Warren Buffett's decision to invest in the stock has also done the trick for the stock. The company's efforts to reward shareholders are impressive as well.
We are positive on the company’s move to increase its stake in its Canadian unit to 70% from 37%. We also view the company’s deal with a leading player like AT&T (T - Free Report) to provide 4G LTE connectivity as a major positive.
In view of the above positives, we believe that Sirius XMstock should be retained by investors right now.
Zacks Rank & Key Picks
Sirius XM currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the broader consumer discretionary sector are Central European Media Enterprises Ltd. and Salem Media Group, Inc. (SALM - Free Report) . All of these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Central European Media Enterprises and Salem Media have gained over 21% and 19% respectively, on a year-to-date basis.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
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Here's Why You Should Hold onto Sirius XM (SIRI) for Now
Shares of Sirius XM Holdings Inc. (SIRI - Free Report) have outperformed the Zacks categorized Broadcast- Radio-TV industry over the last three months. The stock rallied 17.53% compared with the industry‘s gain of 13.11% over the same period.
Sirius XM’s net subscriber growth is encouraging. The company added over 1.75 million new subscribers in 2016, ending the year with a user base of approximately 31.3 million. The company is expected to witness further subscriber growth this year. Its efforts to expand its product portfolio also raise optimism. Warren Buffett's decision to invest in the stock has also done the trick for the stock. The company's efforts to reward shareholders are impressive as well.
We are positive on the company’s move to increase its stake in its Canadian unit to 70% from 37%. We also view the company’s deal with a leading player like AT&T (T - Free Report) to provide 4G LTE connectivity as a major positive.
In view of the above positives, we believe that Sirius XMstock should be retained by investors right now.
Zacks Rank & Key Picks
Sirius XM currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the broader consumer discretionary sector are Central European Media Enterprises Ltd. and Salem Media Group, Inc. (SALM - Free Report) . All of these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Central European Media Enterprises and Salem Media have gained over 21% and 19% respectively, on a year-to-date basis.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>