Sirius XM Radio Started With Neutral Rating at Guggenheim

Sirius XM Radio Started With Neutral Rating at Guggenheim March 14, 2024, 10:26 a.m., readers: 8

Guggenheim analysts started covering Sirius XM Radio (NASDAQ:SIRI) with a Neutral rating and set the price target at $4.00. The analysts highlighted SiriusXM's position as a leading audio platform characterized by its stable satellite subscription revenue base. The analysts anticipate the company to persist in generating steady free cash flow while maintaining a net leverage ratio in the low-to-mid 3x range, alongside returning excess cash to its shareholders. The forthcoming transaction with Liberty, expected to finalize in early Q3, is seen as a move to streamline the ownership structure and enhance strategic flexibility. Guggenheim's projections include a free cash flow per share of $0.35 for the current year, increasing to $0.42 by 2025, translating to free cash flow yields of 8.7% and 10.3%, respectively, which they view as attractive.


S irius XM Holdings Inc. provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges;

Price: 3.15
Market cap: 12.1 billion USD
Eps: 0.32
P/e ratio: 9.84
Focus Analysis On: SIRI