Sirius XM Radio Inc. (NASDAQ: SIRI) Downgraded by Lazard Capital to Neutral
Wednesday, April 27, 2022 3:00 PM

Sirius XM Radio Inc. (NASDAQ: SIRI) was downgraded to Neutral from Buy at Lazard Capital. The price target of the company is between the range of $1.35 and $2.40.

Sirius XM Radio reported full year 2010 financial results, including revenue of $2.82 billion, up 14 percent over 2009 revenue of $2.47 billion, and adjusted EBITDA of $626 million, up 35 percent from $463 million in 2009. Free cash flow in 2010 was $210 million, compared with $185 million in 2009.  GAAP net income attributable to common stockholders for 2010 and 2009 was $43 million and a loss of $538 million respectively, or $0.01 and a loss of $0.15 per diluted share respectively.

The company plans to release first quarter 2011 financial and operating results on Tuesday, May 3.

Shares last traded at $1.97. Sirius XM has a 52-week low of $0.86 and a 52-week high of $2. The company has a total market cap of $7.61 billion. The price to earnings ratio of the company is 38.60, and the PEG ratio is 2.05.

Sirius Satellite Radio is building a digital satellite radio system that will broadcast up to 100 channels of music and entertainment programming to motorists throughout the continental United States. The company plans to offer channels of commercial-free music and channels of news, sports and entertainment programming for a monthly subscription fee. Sirius Satellite Radio has an exclusive agreement with Ford Motor Co. to install Sirius receivers in Ford vehicles.