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

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 paid a dividend of 0.0266 per share on Wednesday, May 29th. This represents a $0.11 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Thursday, May 9th.

Sirius XM has increased its dividend by an average of 22.0% per year over the last three years and has increased its dividend every year for the last 6 years. Sirius XM has a dividend payout ratio of 34.4% indicating that its dividend is sufficiently covered by earnings. Research 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 Down 1.6 %

Shares of SIRI stock opened at $3.13 on Wednesday. The company has a 50 day moving average of $3.62 and a 200-day moving average of $4.52. Sirius XM has a 12-month low of $2.92 and a 12-month high of $7.95. The firm has a market cap of $12.04 billion, a P/E ratio of 9.49, a PEG ratio of 1.02 and a beta of 1.10.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business posted $0.06 EPS. Sirius XM’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts expect that Sirius XM will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SIRI. Barrington Research reiterated an “outperform” rating and issued a $5.75 price objective on shares of Sirius XM in a research note on Tuesday, April 30th. Pivotal Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and reduced their price objective for the company from $5.05 to $4.90 in a research note on Wednesday, April 24th. Rosenblatt Securities reduced their price objective on shares of Sirius XM from $4.50 to $3.40 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. The Goldman Sachs Group upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $3.50 to $3.25 in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company reduced their price objective on shares of Sirius XM from $3.00 to $2.50 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Sirius XM has an average rating of “Hold” and a consensus target price of $4.42.

Insider Buying and Selling at Sirius XM

In other news, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction on 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 sale, the director now directly owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction on 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 directly owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $3,936,000.00. Following the sale, the director now directly owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The disclosure for this sale can be found here. 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.