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Sirius XM, Devon, FPL: Ratings Changes

BOSTON (TheStreet) -- Sirius XM Radio (SIRI), Devon Energy (DVN) and FPL Group (FPL) had their ratings changed by TheStreet's stock model.

The model upgraded satellite radio broadcaster Sirius XM Radio to "hold."

Quarter: Sirius swung to a first-quarter profit of $42 million, or 1 cent, from a loss of $50 million, or 7 cents, a year earlier. Revenue grew 13%. The operating margin rose from 7.1% to 19%. Sirius has $3.6 billion of debt, equal to a debt-to-equity ratio of 24.

Stock: Sirius has nearly doubled during the past year, outpacing U.S. indices. It trades at a price-to-projected-earnings ratio of 75 and a price-to-book ratio of 29, 320% and 815% premiums to peer averages. It's cheap based on sales and cash flow.

Consensus: Of firms rating Sirius, 5, or 56%, advise purchasing its shares and four recommend holding them. Janco Partners expects the stock to gain 35% to $1.40. Lazard Capital Markets believes it will hit $1.35. RBC (RY) thinks it's fairly valued at $1.

The model upgraded utility FPL Group to "buy."

Quarter: First-quarter profit soared 53% to $556 million, or $1.36, as revenue declined 2.3%. The operating margin expanded from 16% to 26%. The balance sheet holds $1.2 billion of cash and $21 billion of debt, equal to a debt-to-equity ratio of 1.5.

Stock: FPL has fallen 9.3% during the past year, underperforming U.S. indices. It trades at a price-to-projected-earnings ratio of 11 and a price-to-cash-flow ratio of 4.9, 11% and 8% discounts to peer averages. The shares offer a 3.9% dividend yield.

Consensus: Of analysts covering FPL, 13, or 54%, advise purchasing its shares and 11 recommend holding them. JPMorgan (JPM) predicts that the stock will rise 19% to $61. Barclays (BCS) expects it to climb 15% to $59. It has fallen 7%, annually, since 2007.

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