Yahoo Finance Sirius XM (SIRI) Rises Higher Than Market: Key Facts
The most recent trading session ended with Sirius XM (SIRI) standing at $3.16, reflecting a +1.44% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 1.2% for the day. Elsewhere, the Dow gained 0.69%, while the tech-heavy Nasdaq added 1.59%.
The satellite radio company's stock has dropped by 19.54% in the past month, falling short of the Consumer Discretionary sector's loss of 6.73% and the S&P 500's loss of 4.16%.
The investment community will be closely monitoring the performance of Sirius XM in its forthcoming earnings report. The company is scheduled to release its earnings on April 30, 2024. The company's upcoming EPS is projected at $0.06, signifying steadiness compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $2.13 billion, down 0.73% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.29 per share and revenue of $8.78 billion, indicating changes of -9.38% and -1.89%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Sirius XM. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Sirius XM boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Sirius XM has a Forward P/E ratio of 10.62 right now. This signifies a premium in comparison to the average Forward P/E of 9.86 for its industry.
It is also worth noting that SIRI currently has a PEG ratio of 1.06. 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 0.64 at the close of the market yesterday.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 235, positioning it in the bottom 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Sirius XM Holdings Inc. (SIRI) : Free Stock Analysis Report
