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

Sirius XM Holdings Inc. (NASDAQ:SIRI) declared a quarterly dividend on Thursday, April 25th, RTT News reports. Shareholders 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 yield of 3.52%. The ex-dividend date is Thursday, May 9th.

Sirius XM has raised its dividend payment by an average of 22.0% per year over the last three years and has increased 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 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 Price Performance

SIRI 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 PEG ratio of 1.07 and a beta of 1.04. The business’s fifty day moving average price is $3.89 and its two-hundred day moving average price is $4.61. Sirius XM has a fifty-two week low of $2.98 and a fifty-two week high of $7.95.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.30 billion. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. Research analysts expect that Sirius XM will post 0.29 EPS for the current year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

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

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.