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

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

Sirius XM has raised its dividend by an average of 22.0% annually 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. 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

SIRI stock opened at $3.16 on Thursday. The stock has a market cap of $12.15 billion, a P/E ratio of 9.88, a P/E/G ratio of 1.07 and a beta of 1.04. The stock’s fifty day simple moving average is $3.92 and its two-hundred 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.

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

Insider Activity

In related news, Director James E. Meyer sold 800,000 shares of the stock in a transaction dated 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 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 accessible through the SEC website. In related news, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James E. Meyer sold 800,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now 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 owned by company insiders.

Analysts Set New Price Targets

SIRI has been the topic of a number of research analyst reports. Pivotal Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and dropped their target price for the company from $5.05 to $4.90 in a research note on Wednesday. Wells Fargo & Company reduced their price objective on Sirius XM from $4.50 to $3.00 and set an “underweight” rating for the company in a report on Monday, April 1st. Benchmark decreased their target price on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Guggenheim initiated coverage on Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price target on the stock. Finally, Citigroup upgraded Sirius XM from a “sell” rating to a “neutral” rating and cut their price target for the stock from $4.10 to $3.30 in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Sirius XM currently has an average rating of “Hold” and a consensus 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.