The recent June sales numbers have made people enthusiastic about the auto industry, but strong auto sales can be good for other companies as well. For example, Sirius XM Radio (SIRI) has been enjoying its own positive reports that are closely related to the success of the auto industry. Pandora Media (P), Apple (AAPL), and Google (GOOG) may also benefit from this, but it will be to a much smaller degree. Sirius is the company that gains the most from this industry, and I believe it would be a solid investment at the moment.
Sirius is currently trading around $2, and it has been on an upward trend in July so far. Its 52-week range is $1.27 to $2.41. Although the 52-week high occurred in April, I believe Sirius will be moving closer to this price once again. Its current market cap is $9.74 billion, and its trailing P/E is 26.12. Its revenue per share (trailing twelve months) is $0.83.
Sirius recently raised its expectations for how many subscribers it will add by the end of the year. Its current estimate is for 1.6 million new subscribers, which is a significant amount higher than its previous forecast of 1.3 million. It added 622,042 net subscribers in the second quarter, which is 38% higher than its numbers from last year. This also exceeded expectations from analysts, so this shows that the company is already growing stronger. It has already added over one million subscribers this year.
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