Sirius XM Holdings Inc. (SIRI) to Issue Quarterly Dividend of $0.03 on August 26th

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 dividend on an annualized basis and a dividend yield of 2.71%.

Sirius XM has increased its dividend payment by an average of 22.0% annually over the last three years. Sirius XM has a payout ratio of 34.4% meaning 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 Performance

Sirius XM stock opened at $3.92 on Friday. The firm has a market cap of $15.08 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.30 and a beta of 1.08. Sirius XM has a 1 year low of $2.45 and a 1 year high of $5.78. The firm’s 50 day moving average price is $3.05 and its two-hundred day moving average price is $3.78.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the firm earned $0.06 earnings per share. Sirius XM’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities analysts predict that Sirius XM will post 0.31 EPS for the current fiscal year.

Insider Activity at Sirius XM

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total transaction of $32,546.80. Following the transaction, the director now directly owns 169,309 shares in the company, valued at $440,203.40. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.79% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on SIRI. StockNews.com began coverage on shares of Sirius XM in a research report on Friday. They issued a “hold” rating on the stock. Wells Fargo & Company reduced their target price on Sirius XM from $3.00 to $2.50 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Pivotal Research upgraded Sirius XM from a “hold” rating to a “buy” rating and lowered their price target for the company from $5.05 to $4.90 in a report on Wednesday, April 24th. Citigroup downgraded Sirius XM from a “neutral” rating to a “sell” rating and set a $2.80 price objective for the company. in a research note on Thursday. Finally, Guggenheim lowered their target price on Sirius XM from $3.30 to $2.90 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.07.

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.