Satellite radio and media company Sirius XM NASDAQ:SIRI will be announcing earnings results this Thursday before the bell. Here’s what to expect.
Sirius XM beat analysts’ revenue expectations last quarter, reporting revenues of $2.09 billion, up 1.1% year on year. It was a satisfactory quarter for the company, with a decent beat of analysts’ EBITDA estimates.
Is Sirius XM a buy or sell going into earnings? .
This quarter, the market is expecting Sirius XM’s revenue to be flat year on year, improving from the 1.8% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Sirius XM has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Sirius XM’s peers in the consumer discretionary - wireless, cable and satellite segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Comcast delivered year-on-year revenue growth of 4.7%, beating analysts’ expectations by 1%, and AT&T reported revenues up 2.3%, falling short of estimates by 0.6%. Comcast traded down 5.2% following the results while AT&T was up 3.1%.
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Investors in the consumer discretionary - wireless, cable and satellite segment have had steady hands going into earnings, with share prices flat over the last month. Sirius XM is up 7.8% during the same time and is heading into earnings with an average analyst price target of $29.31 (compared to the current share price of $31.53).
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