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Why Sirius XM (SIRI) Dipped More Than Broader Market Today
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Sirius XM (SIRI - Free Report) ended the recent trading session at $20.00, demonstrating a -1.11% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.74%. Elsewhere, the Dow saw a downswing of 0.63%, while the tech-heavy Nasdaq depreciated by 0.76%.
The stock of satellite radio company has fallen by 2.98% in the past month, lagging the Consumer Discretionary sector's gain of 0.56% and the S&P 500's gain of 0.79%.
Analysts and investors alike will be keeping a close eye on the performance of Sirius XM in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.77, showcasing a 7.23% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $2.18 billion, reflecting a 0.58% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.77 per share and a revenue of $8.54 billion, indicating changes of +55.62% and -1.83%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Sirius XM. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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, the Zacks Consensus EPS estimate remained stagnant. As of now, Sirius XM holds a Zacks Rank of #2 (Buy).
In the context of valuation, Sirius XM is at present trading with a Forward P/E ratio of 7.29. This signifies a discount in comparison to the average Forward P/E of 14.82 for its industry.
One should further note that SIRI currently holds a PEG ratio of 0.3. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Broadcast Radio and Television industry stood at 1.35 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 182, this industry ranks in the bottom 27% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SIRI in the coming trading sessions, be sure to utilize Zacks.com.
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Why Sirius XM (SIRI) Dipped More Than Broader Market Today
Sirius XM (SIRI - Free Report) ended the recent trading session at $20.00, demonstrating a -1.11% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.74%. Elsewhere, the Dow saw a downswing of 0.63%, while the tech-heavy Nasdaq depreciated by 0.76%.
The stock of satellite radio company has fallen by 2.98% in the past month, lagging the Consumer Discretionary sector's gain of 0.56% and the S&P 500's gain of 0.79%.
Analysts and investors alike will be keeping a close eye on the performance of Sirius XM in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.77, showcasing a 7.23% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $2.18 billion, reflecting a 0.58% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.77 per share and a revenue of $8.54 billion, indicating changes of +55.62% and -1.83%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Sirius XM. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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, the Zacks Consensus EPS estimate remained stagnant. As of now, Sirius XM holds a Zacks Rank of #2 (Buy).
In the context of valuation, Sirius XM is at present trading with a Forward P/E ratio of 7.29. This signifies a discount in comparison to the average Forward P/E of 14.82 for its industry.
One should further note that SIRI currently holds a PEG ratio of 0.3. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Broadcast Radio and Television industry stood at 1.35 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 182, this industry ranks in the bottom 27% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SIRI in the coming trading sessions, be sure to utilize Zacks.com.