In the latest trading session, Sirius XM (SIRI) closed at $26.40, marking a -0.49% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq gained 0.56%.

Heading into today, shares of the satellite radio company had gained 8.95% over the past month, outpacing the Consumer Discretionary sector's gain of 0.88% and the S&P 500's gain of 1.39% in that time.

The investment community will be paying close attention to the earnings performance of Sirius XM in its upcoming release. The company is slated to reveal its earnings on October 31, 2024. The company is predicted to post an EPS of $0.80, indicating a 11.11% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $2.19 billion, showing a 3.52% drop compared to the year-ago quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.29 per share and a revenue of $8.75 billion, signifying shifts of +2.81% and -2.22%, respectively, from the last year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Sirius XM. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.33% increase. At present, Sirius XM boasts a Zacks Rank of #3 (Hold).

In the context of valuation, Sirius XM is at present trading with a Forward P/E ratio of 8.06. This represents a discount compared to its industry's average Forward P/E of 10.65.

We can also see that SIRI currently has a PEG ratio of 0.81. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Broadcast Radio and Television industry stood at 0.88 at the close of the market yesterday.