Sirius XM Holdings Inc. (NASDAQ:SIRI) Increases Dividend to $0.27 Per Share

Sirius XM Holdings Inc. (NASDAQ:SIRI) declared a quarterly dividend on Tuesday, October 22nd, RTT News reports. Stockholders of record on Tuesday, November 5th will be paid a dividend of 0.27 per share on Thursday, November 21st. This represents a $1.08 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend is Tuesday, November 5th. This is a boost from Sirius XM’s previous quarterly dividend of $0.27.

Sirius XM has raised its dividend by an average of 22.0% annually over the last three years. Sirius XM has a payout ratio of 33.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sirius XM to earn $3.25 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 33.2%.

Sirius XM Stock Performance

Shares of SIRI stock opened at $27.65 on Monday. The company has a market capitalization of $10.65 billion, a price-to-earnings ratio of -4.36, a price-to-earnings-growth ratio of 1.32 and a beta of 1.04. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.43 and a current ratio of 0.37. Sirius XM has a one year low of $22.18 and a one year high of $57.80. The company’s 50-day moving average is $26.52 and its 200 day moving average is $29.35.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Sirius XM had a negative net margin of 23.02% and a positive return on equity of 68.38%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Sell-side analysts expect that Sirius XM will post 3.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on SIRI shares. StockNews.com began coverage on Sirius XM in a report on Monday, October 28th. They issued a “hold” rating for the company. Benchmark reissued a “buy” rating and issued a $43.00 target price on shares of Sirius XM in a research report on Tuesday, October 15th. Bank of America reaffirmed an “underperform” rating and set a $23.00 price target on shares of Sirius XM in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Finally, Citigroup increased their price objective on shares of Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research report on Thursday, September 26th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $29.69.

Insider Transactions at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc purchased 1,259,259 shares of the business’s stock in a transaction on Friday, October 11th. The stock was acquired at an average price of $24.95 per share, with a total value of $31,418,512.05. Following the completion of the acquisition, the insider now owns 108,719,088 shares of the company’s stock, valued at approximately $2,712,541,245.60. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the transaction, the insider now owns 98,933 shares in the company, valued at approximately $3,126,282.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Berkshire Hathaway Inc purchased 1,259,259 shares of the business’s stock in a transaction on Friday, October 11th. The stock was acquired at an average price of $24.95 per share, with a total value of $31,418,512.05. Following the purchase, the insider now directly owns 108,719,088 shares in the company, valued at $2,712,541,245.60. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 2,646,761 shares of company stock worth $65,952,329 in the last three months. Corporate 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.