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Sirius XM (SIRI) Declines More Than Market: Some Information for Investors

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The latest trading session saw Sirius XM (SIRI - Free Report) ending at $3.10, denoting a -1.59% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.58%. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, lost 1.15%.

Shares of the satellite radio company have depreciated by 21.05% over the course of the past month, underperforming the Consumer Discretionary sector's loss of 4.55% and the S&P 500's loss of 1.09%.

Investors will be eagerly watching for the performance of Sirius XM in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 30, 2024. The company is forecasted to report an EPS of $0.06, showcasing no movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $2.13 billion, indicating a 0.69% downward movement from the same quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.29 per share and a revenue of $8.79 billion, indicating changes of -9.38% and -1.85%, respectively, from the former year.

Investors should also note any recent changes to analyst estimates for Sirius XM. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 0.67% fall in the Zacks Consensus EPS estimate. At present, Sirius XM boasts a Zacks Rank of #3 (Hold).

Investors should also note Sirius XM's current valuation metrics, including its Forward P/E ratio of 10.69. Its industry sports an average Forward P/E of 9.54, so one might conclude that Sirius XM is trading at a premium comparatively.

It is also worth noting that SIRI currently has a PEG ratio of 1.07. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Broadcast Radio and Television industry stood at 0.63 at the close of the market yesterday.

The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 231, this industry ranks in the bottom 9% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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