Once again, Sirius XM traded at its highest level since March 2008, when it fetched as much as $3.89. The company has hit fresh five-year highs several times in recent months, leaving the large number of shorts smarting.
The stock did close well off the highs set earlier in the week, and it’s a fair bet that Sirius XM’s upcoming report on Thursday will dictate whether we hit yet another new high mark.
Earn, baby, earn
Sirius XM’s second-quarter financials will be released on Thursday morning, followed by a conference call that will once again be available online, by phone, or on satellite radio.
Analysts see a profit of $0.02 a share, in line with what it earned in the two previous quarters. Revenue is pegged to move 12% higher to $934.4 million.
Sirius XM already preannounced that it closed out the period with 715,000 net new subscribers, boosting its subscriber target up to 1.5 million net additions for the entire year. We’ll see if it tweaks any of its other projections on Thursday.
The article This Week in Sirius XM Radio originally appeared on Fool.com and is written by Rick Munarriz.
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