Sirius XM Holdings Inc. (NASDAQ:SIRI) to Issue $0.03 Quarterly Dividend

Sirius XM Holdings Inc. (NASDAQ:SIRI) announced a quarterly dividend on Thursday, April 25th, RTT News reports. Shareholders of record on Friday, May 10th will be given a dividend of 0.0266 per share on Wednesday, May 29th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Thursday, May 9th.

Sirius XM has raised its dividend payment by an average of 22.0% per year over the last three years and has raised its dividend every year for the last 6 years. Sirius XM has a dividend payout ratio of 34.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sirius XM to earn $0.32 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 34.4%.

Sirius XM Stock Down 1.6 %

Shares of NASDAQ:SIRI opened at $3.13 on Wednesday. The firm’s 50 day moving average price is $3.62 and its 200-day moving average price is $4.52. The stock has a market capitalization of $12.04 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 1.02 and a beta of 1.10. Sirius XM has a twelve month low of $2.92 and a twelve month high of $7.95.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the firm earned $0.06 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. Analysts expect that Sirius XM will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SIRI has been the subject of several recent research reports. Citigroup raised Sirius XM from a “sell” rating to a “neutral” rating and cut their price target for the company from $4.10 to $3.30 in a report on Wednesday, April 24th. Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and reduced their target price for the stock from $5.05 to $4.90 in a report on Wednesday, April 24th. Wells Fargo & Company lowered their price target on shares of Sirius XM from $3.00 to $2.50 and set an “underweight” rating on the stock in a report on Wednesday, May 1st. Guggenheim began coverage on shares of Sirius XM in a research note on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price objective for the company. Finally, Seaport Res Ptn upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Sirius XM currently has an average rating of “Hold” and an average price target of $4.42.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the completion of the transaction, the director now owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the completion of the transaction, the director now owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the sale, the insider now directly owns 746,816 shares in the company, valued at $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Sirius XM Company Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.