Boston, MA, 11/13/2013 (wallstreetpr) – Sirius XM Radio Inc (NASDAQ:SIRI) has announced that it would be releasing its fourth quarter and results for the full financial year on November 14th. The announcement would be made by Mark Redmond (President and CEO) and Michael Washinushi its CFO.
In a recent note the analysts of The Street Ratings have given the company shares a buy rating. According to these analysts the company has got buy rating primarily due to its multiple strengths which they believe will have a greater impact on the total shares held by the company.
The company’s strength according to the analysts lies in excellent cash from ongoing operations, increasing revenue, good share price, excellent dividend returns and its increasing profit margins. Its gross profit margins in the third quarter were higher than those in the same period last year. the company operates as Sirius XM and has more than 2.2 million subscribers and is the nation’s leading music entertainment company having more than 10 satellite radio channels.
In other news the company announced that beginning January next year it was increasing its rates for the basic package by $6 a year. Clients from next year will be paying an extra 50 cents a month for its satellite radio service popular in automobiles as it contains hundreds of channels which air few advertisements and air exclusive content like the Howard Stern’s show.
It will be the second time that the company has raised its prices after the ban on the same put by the government was lifted after the merger of Sirius and XM radio in 2008. The last time it raised its prices was in was in 2011 when it increased the basic package price by $1.50. at that time it did not see many clients cancelling their services.
