Sirius (SIRI) Shares Stuck in Limbo Through August - Trefis
Tweet
Share
E-mailGet Alerts SIRI Hot Sheet
Price: $3.02 -4.43%
Rating Summary:
12 Buy, 10 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
12 Buy, 10 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Join SI Premium – FREE
Sirius XM (Nasdaq: SIRI) shares may be caught in limbo until August, according to research firm Trefis.
Trefis believes that Sirius' price will hover around $2 per share, at least through August. In August, Sirius will have its second-quarter earnings release, where CEO Mel Karmazin is expected to guides earnings and progress with SatRad 2.0. Many investors also expect that cash will be put to use either through buybacks or dividends, but the action is unlikely to happen before the start of FY12.
The prediction means that Sirius won't rise much above the $2 price level it is currently trading at. Further, shares have risen from just about $1.00 one year ago, and more than doubled to over $2.40 as recent at the end of May.
It's a big prediction that may pay off big for investors should it be right.
Trefis models their $2 per share prediction with the following numbers: $126 in revenues per sub, 15.1 million automotive subscribers, 6.25 million retail subs, about 166 thousand rental subs, and $272 million of miscellaneous revs.
Trefis believes that Sirius' price will hover around $2 per share, at least through August. In August, Sirius will have its second-quarter earnings release, where CEO Mel Karmazin is expected to guides earnings and progress with SatRad 2.0. Many investors also expect that cash will be put to use either through buybacks or dividends, but the action is unlikely to happen before the start of FY12.
The prediction means that Sirius won't rise much above the $2 price level it is currently trading at. Further, shares have risen from just about $1.00 one year ago, and more than doubled to over $2.40 as recent at the end of May.
It's a big prediction that may pay off big for investors should it be right.
Trefis models their $2 per share prediction with the following numbers: $126 in revenues per sub, 15.1 million automotive subscribers, 6.25 million retail subs, about 166 thousand rental subs, and $272 million of miscellaneous revs.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Citi Upgrades Sirius XM Radio (SIRI) to Neutral, 'risk-reward is balanced at prevailing levels'
- Data I/o Corp (DAIO) Misses Q2 EPS by 7c
- AptarGroup (ATR) Tops Q1 EPS by 11c
Create E-mail Alert Related Categories
Analyst Comments, Insiders' BlogRelated Entities
Mel Karmazin, Dividend, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
