Sirius XM (SIRI) closed the latest trading day at $22.34, indicating a -1.33% change from the previous session’s end. This change lagged the S&P 500’s daily loss of 0.39%. Elsewhere, the Dow saw a downswing of 0.61%, while the tech-heavy Nasdaq depreciated by 0.32%.
Prior to today’s trading, shares of the satellite radio company had lost 9.87% over the past month. This has lagged the Consumer Discretionary sector’s gain of 4.5% and the S&P 500’s gain of 3.6% in that time.
Investors will be eagerly watching for the performance of Sirius XM in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.63, indicating a 30% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.17 billion, indicating a 4.99% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$6 per share and revenue of $8.68 billion, which would represent changes of -287.5% and -3%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Sirius XM. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
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 has moved 0.53% higher. Sirius XM currently has a Zacks Rank of #3 (Hold).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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