Why Sirius XM Holdings Rallied Today
Yahoo Finance ·
Shares of Sirius XM Holdings ( SIRI +7.53% ) were rallying on Wednesday, up as much as 7.9% before retreating to a 7.5% gain on the day. At roughly $29.70 as of this writing, Sirius' market cap is about $10 billion. Meanwhile, the company just raised its free cash flow guidance for this year by $25 million to $1.375 billion. That means the stock still trades at roughly 7.3 times this year's free cash flow guidance. That's a pretty low valuation for a subscription-based company with a smaller yet accelerating ad business, even with another $9.4 billion in debt on the balance sheet. *Average returns of all recommendations since inception. Cost basis and return based on previous market day close.
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