Sirius XM Holdings Inc. (SIRI) to Issue Quarterly Dividend of $0.03 on May 29th

Sirius XM Holdings Inc. (NASDAQ:SIRI) declared 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 3.52%. 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 raised its dividend annually for the last 7 consecutive years. Sirius XM has a dividend 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

Shares of NASDAQ SIRI opened at $3.02 on Friday. The stock has a 50 day simple moving average of $3.85 and a 200-day simple moving average of $4.60. The company has a market cap of $11.62 billion, a PE ratio of 9.44, a P/E/G ratio of 1.07 and a beta of 1.04. Sirius XM has a 12-month low of $2.97 and a 12-month high of $7.95.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data 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 business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.30 billion. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. Sell-side analysts forecast that Sirius XM will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction 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 transaction, the insider now owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the business’s 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 sale, 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 document filed with the SEC, which is available through the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of the business’s 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 sale, the insider now directly owns 746,816 shares in the company, valued at $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SIRI has been the subject of several analyst reports. Guggenheim started coverage on Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price objective for the company. Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and dropped their target price for the stock from $5.05 to $4.90 in a report on Wednesday. Wells Fargo & Company dropped their target price on Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a report on Monday, April 1st. Citigroup raised Sirius XM from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $4.10 to $3.30 in a report on Wednesday. Finally, Benchmark dropped 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. Two investment 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. According to MarketBeat, Sirius XM presently has an average rating of “Hold” and a consensus target price 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.