Sirius XM Holdings Inc. Announces Quarterly Dividend of $0.03 (NASDAQ:SIRI)

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 paid a dividend of 0.0266 per share on Wednesday, May 29th. This represents a $0.11 annualized dividend and a yield of 3.52%. The ex-dividend date is Thursday, May 9th.

Sirius XM has increased its dividend by an average of 22.0% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Sirius XM has a payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sirius XM to earn $0.31 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 35.5%.

Sirius XM Stock Performance

Shares of Sirius XM stock opened at $3.02 on Friday. The stock has a market capitalization of $11.62 billion, a price-to-earnings ratio of 9.44, a P/E/G ratio of 1.07 and a beta of 1.04. Sirius XM has a 1-year low of $2.97 and a 1-year high of $7.95. The firm’s 50-day moving average price is $3.85 and its two-hundred day moving average price is $4.60.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.30 billion. As a group, equities research analysts predict that Sirius XM will post 0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Guggenheim assumed coverage on shares of Sirius XM in a research note on Thursday, March 14th. They set a “neutral” rating and a $4.00 price target on the stock. Wells Fargo & Company decreased their price target on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research note on Monday, April 1st. Benchmark decreased their price target on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. StockNews.com started coverage on shares of Sirius XM in a research note on Sunday, April 21st. They issued a “hold” rating on the stock. Finally, Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $4.10 to $3.30 in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Sirius XM currently has a consensus rating of “Hold” and a consensus price target of $4.67.

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 on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the sale, the director now directly owns 1,091,472 shares in the company, valued at $5,370,042.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the stock in a transaction on Tuesday, February 13th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James E. Meyer sold 800,000 shares of the stock in a transaction 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 sale, the director now owns 1,091,472 shares in the company, valued at $5,370,042.24. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

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.