Sirius XM Holdings Inc. (SIRI) To Go Ex-Dividend on August 10th

Sirius XM Holdings Inc. (NASDAQ:SIRI) declared a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Monday, August 10th will be given a dividend of 0.27 per share on Wednesday, August 26th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, August 10th.

Sirius XM has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Sirius XM has a dividend payout ratio of 36.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Sirius XM to earn $3.35 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 32.2%.

Sirius XM Stock Performance

Shares of Sirius XM stock opened at $29.87 on Friday. The company has a 50 day moving average price of $28.90 and a 200 day moving average price of $24.95. The firm has a market capitalization of $10.05 billion, a P/E ratio of 12.60, a PEG ratio of 0.64 and a beta of 0.95. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.83. Sirius XM has a 52 week low of $19.76 and a 52 week high of $31.42.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. Sirius XM’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. Sell-side analysts expect that Sirius XM will post 3.1 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SIRI shares. JPMorgan Chase & Co. upped their target price on Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Barrington Research lifted their price target on Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Rosenblatt Securities cut their price objective on Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Morgan Stanley increased their price objective on Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a report on Tuesday. Finally, Evercore set a $28.00 target price on Sirius XM in a report on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Sirius XM presently has a consensus rating of “Hold” and an average price target of $28.00.

About Sirius XM

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.