Sirius XM (SIRI) Stock Drops Despite Market Gains: Important Facts to Note

Sirius XM (SIRI) closed the most recent trading day at $20.44, moving -1.16% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.46%. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq gained 0.57%. The satellite radio company's shares have seen a decrease of 1.24% over the last month, not keeping up with the Consumer Discretionary sector's gain of 3.1% and the S&P 500's gain of 4.22%.Investors will be eagerly watching for the performance of Sirius XM in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.77, reflecting a 7.23% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.18 billion, down 0.58% from the year-ago period. 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. Investors might also notice recent changes to analyst estimates for Sirius XM. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Sirius XM holds a Zacks Rank of #3 (Hold). Digging into valuation, Sirius XM currently has a Forward P/E ratio of 7.46. Its industry sports an average Forward P/E of 15.59, so one might conclude that Sirius XM is trading at a discount comparatively. Meanwhile, SIRI's PEG ratio is currently 0.31. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Broadcast Radio and Television industry had an average PEG ratio of 1.35. The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 37% 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. Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sirius XM Holdings Inc. (SIRI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks