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Sirius XM (SIRI) Advances While Market Declines: Some Information for Investors
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In the latest trading session, Sirius XM (SIRI - Free Report) closed at $28.88, marking a +1.17% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.59%. Elsewhere, the Dow lost 0.6%, while the tech-heavy Nasdaq lost 0.65%.
The satellite radio company's shares have seen an increase of 0.35% over the last month, surpassing the Consumer Discretionary sector's loss of 5.04% and the S&P 500's loss of 1.37%.
Market participants will be closely following the financial results of Sirius XM in its upcoming release. On that day, Sirius XM is projected to report earnings of $0.76 per share, which would represent a year-over-year decline of 9.52%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.16 billion, up 0.06% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3 per share and revenue of $8.6 billion, which would represent changes of -5.96% and +0.47%, respectively, from the prior 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 such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.24% decrease. As of now, Sirius XM holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Sirius XM is holding a Forward P/E ratio of 9.51. This indicates a discount in contrast to its industry's Forward P/E of 10.76.
It's also important to note that SIRI currently trades at a PEG ratio of 0.51. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Broadcast Radio and Television industry was having an average PEG ratio of 0.97.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% of all 250+ industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
View the Zacks #1 Rank List
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Sirius XM (SIRI) Advances While Market Declines: Some Information for Investors
In the latest trading session, Sirius XM (SIRI - Free Report) closed at $28.88, marking a +1.17% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.59%. Elsewhere, the Dow lost 0.6%, while the tech-heavy Nasdaq lost 0.65%.
The satellite radio company's shares have seen an increase of 0.35% over the last month, surpassing the Consumer Discretionary sector's loss of 5.04% and the S&P 500's loss of 1.37%.
Market participants will be closely following the financial results of Sirius XM in its upcoming release. On that day, Sirius XM is projected to report earnings of $0.76 per share, which would represent a year-over-year decline of 9.52%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.16 billion, up 0.06% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3 per share and revenue of $8.6 billion, which would represent changes of -5.96% and +0.47%, respectively, from the prior 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 such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.24% decrease. As of now, Sirius XM holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Sirius XM is holding a Forward P/E ratio of 9.51. This indicates a discount in contrast to its industry's Forward P/E of 10.76.
It's also important to note that SIRI currently trades at a PEG ratio of 0.51. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Broadcast Radio and Television industry was having an average PEG ratio of 0.97.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% of all 250+ industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.