Market Update (NASDAQ:SIRI): Coachella Radio Channel to Launch on SiriusXM in Advance of Coachella Valley Music and Arts Festival

[PR Newswire] – NEW YORK, March 30, 2016 /PRNewswire/ — SiriusXM announced today that it will be the exclusive radio broadcaster of live performances and interviews from the Coachella Valley Music and Arts Festival. In advance of Coachella, SiriusXM will launch Coachella Radio on April 11. The limited-run channel will feature music by artists who will be performing at Coachella 2016 leading up to the festival. Coachella Radio will then provide continuous coverage of the festival both weekends with live performances, artist interviews and reports from backstage and the festival grounds as well as exclusive Coachella news and happenings. Select performances will also air on other SiriusXM channels including Electric Area, Alt Nation, The Spectrum and more. Read more on this. Sirius XM Holdings Inc. (SIRI) , with a current value of $20.18B, began trading this morning at $3.94. Today, shares have traded between $3.91 and $3.96 per share and has traded between $3.29 and $4.20 over the past 12 months. SIRI shares are currently priced at 27.64x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 14.08x forward p/e ratio. According to a consensus of 15 analysts, the earnings estimate of $0.03 per share would be $0.01 better than the year-ago quarter and a $0.01 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $0.14 would be a $0.05 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.18 Billion. If realized, that would be a 9.26% increase over the year-ago quarter. In terms of ratings, Gabelli & Co Initiated SIRI at Buy (Sep 18, 2015). Previously, Wunderlich upgraded SIRI from Hold to Buy. Investors should keep in mind is that the average price target is $4.53, which is 14.97% above where the stock opened this morning. See more in (NASDAQ:SIRI) Similar Articles: Market Update (NASDAQ:SIRI): The Billy Joel Channel to Return to SiriusXM on January 15 Stock Update: Sirius XM Holdings Inc (NASDAQ:SIRI) – Frightfully Fun Halloween Programming Across a Variety of SiriusXM’s Music, Comedy, Talk and Entertainment Channels Market Update: Sirius XM Holdings Inc (NASDAQ:SIRI) – "Golf U" to Debut on SiriusXM PGA TOUR Radio Oct. 19