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

Sirius XM Holdings Inc. (NASDAQ:SIRI) announced a quarterly dividend on Thursday, April 25th, RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 3.37%.

Sirius XM has increased its dividend payment by an average of 22.0% annually over the last three years and has raised its dividend every year for the last 7 years. Sirius XM has a payout ratio of 34.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 SIRI opened at $3.16 on Thursday. The company’s fifty day simple moving average is $3.92 and its 200 day simple moving average is $4.62. Sirius XM has a 1-year low of $3.04 and a 1-year high of $7.95. The company has a market cap of $12.15 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 1.07 and a beta of 1.04.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, topping 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 company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.30 billion. As a group, research analysts forecast that Sirius XM will post 0.29 earnings per share for the current year.

Insider Buying and Selling

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

Analyst Ratings Changes

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

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.