Q4 Preview: Is Sirius (SIRI) Succombing to Internet Radio?


Sirius XM Radio, Inc. (Nasdaq: SIRI) is trading slightly higher today, ahead of the company's 2010 fourth quarter earnings report, expected out before the market opens tomorrow. Shares are up0.2% in the afternoon session.

SIRI is expected to report breakeven EPS with revs of $739.18 million. Last quarter, the New York, NY-based company reported EPS of $0.02 on revs of $722.5 million, topping the analyst consensus. Last year, in Q409, SIRI posted break even per share results with revs of $683.8 million, almost mirroring the same winning gap that the company saw in Q310.

SIRI gained 31.5% through the quarter, to $1.63 at the end of December. Shares are up 13.5% since then, and finished 2010 about 154% better.

Data from Bloomberg has 6 analysts with a Buy on SIRI, 7 with a hold, and one suggesting to Sell. The analyst price target average is $1.75, with a high of $2.00 and low of $1.50. Shares have traded in a range of $1.88 - $0.79 over the last 52-weeks.

Miller Tabak + Co. is looking for revs of $738 million and breakeven net income per share. Net sub adds should be 282K, with ARPU of $11.76. Miller Tabak has a Neutral rating on the shares with a price target of $1.60.

Recent net sub adds for Sirius have been the following: Q310 - 334K, Q210 - 583.25K, Q110 - 171.44K, Q409 - 257.03K.

Wunderlich also increased their price target to $2 today ahead of earnings.

Investors will be listening for thoughts in increased use of Internet radio, and color for how well Sirius is doing in the auto industry as that sector continues its momentum.

Sirius XM is expected to release their Q410 earnings on Tuesday, February 15, 2011, at approximately 7:00am EST. Stay tuned to StreetInsider.com's EPS Insider section to see our analysis of the highly-anticipated quarterly results withi0 n seconds of their release.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Stocks

Referenced Stocks: SIRI



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