Sirius XM Radio Inc. (NASDAQ: SIRI) stock slipped this morning despite a recent rating upgrade from Morgan Stanley from Non-rated to Overweight. Its price target has been set at $2 price. The research firm also stated that the stock has potential for return of capital in the 2012 and 2013 time period. The company is also likely to attract more institutional investment, which may help in increasing the stock price.
The research report also stated that the company is expected to face increase in its market costs. The note said, �Particularly as SIRI faces competition from internet-based services enabled by wireless device proliferation.�
Sirius is engaged in the business of broadcasting music, news, talk shows and sports in the United States. The company provides its services for a subscription fee. It also streams some of its content over the internet. The company has four in-orbit satellites and 125 terrestrial repeaters. The company has recently submitted a certificate of ownership for the completion of its merger with XM Satellite Radio. The company had been working towards this merger since 2008.
SIRI stock opened at $1.76 and touched the high of $1.80, which is also its 52 weeks high. The stock�s lowest price in today�s session is $1.75. The company stock�s beta is 1.95. The company stock has traded in the range of $0.79 and $1.80 during the past 52 weeks. The company�s market cap is $6.95 billion and its P/E ratio is 75.26.
SIRI had reported its revenue for the quarter ended on Sep. 30, 2010, at $717.549 million. Its gross was stated at $351.865 million while its net income for the quarter was reported at $67.371 million. SIRI had stated its total current assets at $778.615 million whereas its total assets were valued at $7231.785 million. SIRI had total liabilities worth $6962.693 million at the end of the Sep. 30, 2010, quarter.
- Need fast service and cheap rates from a broker? Click here to see my favorite place to trade SIRI
- Want more? Check out the message board buzz for SIRI
- See which newsletters are recommending this stock pick
- Get breakingnews alerts on this stock:� http://thestockmarketwatch.com/
No comments:
Post a Comment