Yahoo Finance Sirius XM (SIRI) Stock Moves -0.93%: What You Should Know
In the latest market close, Sirius XM (SIRI) reached $3.18, with a -0.93% movement compared to the previous day. This change was narrower than the S&P 500's 1.2% loss on the day. On the other hand, the Dow registered a loss of 0.65%, and the technology-centric Nasdaq decreased by 1.79%.
The satellite radio company's stock has dropped by 20.74% in the past month, falling short of the Consumer Discretionary sector's loss of 4.46% and the S&P 500's loss of 0.85%.
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 is predicted to post an EPS of $0.06, indicating constancy compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $2.13 billion, showing a 0.69% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.29 per share and revenue of $8.79 billion, indicating changes of -9.38% and -1.85%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Sirius XM. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 0.67% decrease. Sirius XM is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Sirius XM has a Forward P/E ratio of 10.89 right now. This signifies a premium in comparison to the average Forward P/E of 9.19 for its industry.
Investors should also note that SIRI has a PEG ratio of 1.09 right now. 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. SIRI's industry had an average PEG ratio of 0.64 as of yesterday's close.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 234, positioning it in the bottom 8% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Sirius XM Holdings Inc. (SIRI) : Free Stock Analysis Report
