Morgan Joseph On Sirius
April 30, 2007
SIRI Sirius Satellite; 1Q07 preview; stock likely bottomed, but upside limited for now - Morgan Joseph (3.04 )
Morgan Joseph notes SIRI to report 1Q07 results on May 1, before the markets open. Firm forecasts revs and EBITDA of $207.7 mln and ($86.1 mln) vs. $126.7 mln and ($421.2 mln) a year ago. They are looking for EPS of ($0.09) vs. ($0.33) last year. They believe the story here is now all about the merger and they are worried that SIRI, in particular, will be negatively affected by CEO Mel Karmazin's focus on getting the merger approved. While firm believes XMSR is doing its part to get the deal approved, SIRI's CEO has been the real public face of the deal. Firm expects the co to add 425,000 total subscribers during the quarter to reach a total of 6.45 mln total subscribers at the end of 1Q07.
4/30/2007 10:16:00 AM
SSG Has Merged. You Can Read All Of The Latest SSG Content By Clicking Here
0 Comments:
SSG is not a Financial Advisor. Read Disclosure: HERE
--------------------------------------------------------
