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

Sirius XM Holdings Inc. (NASDAQ:SIRI) announced a quarterly dividend on Wednesday, July 24th, RTT News reports. Investors of record on Friday, August 9th will be given a dividend of 0.0266 per share on Monday, August 26th. This represents a $0.11 annualized dividend and a dividend yield of 2.67%.

Sirius XM has raised its dividend by an average of 22.0% per year over the last three years. Sirius XM has a dividend payout ratio of 34.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 5.0 %

SIRI traded up $0.19 on Wednesday, hitting $3.99. 55,372,320 shares of the company were exchanged, compared to its average volume of 26,412,938. Sirius XM has a twelve month low of $2.45 and a twelve month high of $5.98. The company has a market cap of $15.35 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.14 and a beta of 1.08. The firm has a 50-day moving average price of $3.01 and a two-hundred day moving average price of $3.77.

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

Insider Activity

In other news, Director Kristina Salen sold 12,518 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total value of $32,546.80. Following the completion of the sale, the director now directly owns 169,309 shares of the company’s stock, valued at approximately $440,203.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on SIRI. Seaport Res Ptn raised Sirius XM from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Guggenheim lowered their price objective on Sirius XM from $3.30 to $2.90 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $5.05 to $4.90 in a research report on Wednesday, April 24th. Evercore ISI raised Sirius XM from an “underperform” rating to an “in-line” rating and lowered their price objective for the stock from $4.25 to $3.25 in a research report on Monday, June 24th. Finally, Benchmark lowered their price objective on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sirius XM has an average rating of “Hold” and a consensus target price of $4.11.

About Sirius XM

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.