Sirius XM (SIRI) Stock Sinks As Market Gains: What You Should Know

Sirius XM (SIRI) closed at $23.23 in the latest trading session, marking a -1.78% move from the prior day. This change lagged the S&P 500's 1.12% gain on the day. Elsewhere, the Dow saw an upswing of 1.14%, while the tech-heavy Nasdaq appreciated by 1.46%.Shares of the satellite radio company have depreciated by 3.94% over the course of the past month, underperforming the Consumer Discretionary sector's loss of 2.8% and outperforming the S&P 500's loss of 4.13%.Investors will be eagerly watching for the performance of Sirius XM in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.69, marking a 1.43% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $2.09 billion, showing a 3.46% drop compared to the year-ago quarter.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.20 per share and a revenue of $8.54 billion, indicating changes of +79.78% and -1.88%, respectively, from the former year.It is also important to note the recent changes to analyst estimates for Sirius XM. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has shifted 0.07% downward. Sirius XM is currently sporting a Zacks Rank of #3 (Hold).Investors should also note Sirius XM's current valuation metrics, including its Forward P/E ratio of 7.38. Its industry sports an average Forward P/E of 12.38, so one might conclude that Sirius XM is trading at a discount comparatively.One should further note that SIRI currently holds a PEG ratio of 0.74. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Broadcast Radio and Television industry was having an average PEG ratio of 0.99.The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 88, putting it in the top 36% of all 250+ industries.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want 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