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 annualized dividend and a yield of 3.35%. 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% meaning its dividend is sufficiently covered by earnings. 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 Up 1.9 %

Shares of SIRI opened at $3.18 on Tuesday. Sirius XM has a fifty-two week low of $2.92 and a fifty-two week high of $7.95. The firm’s 50 day moving average price is $3.65 and its 200 day moving average price is $4.53. The company has a market cap of $12.23 billion, a P/E ratio of 9.64, a PEG ratio of 1.02 and a beta of 1.10.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share 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 firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Research analysts forecast that Sirius XM will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on SIRI. Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and cut their target price for the stock from $4.10 to $3.30 in a research note on Wednesday, April 24th. Barrington Research reissued an “outperform” rating and issued a $5.75 price objective on shares of Sirius XM in a research report on Tuesday, April 30th. Guggenheim initiated coverage on shares of Sirius XM in a research report on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price objective on the stock. Benchmark dropped their price objective on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Finally, StockNews.com initiated coverage on shares of Sirius XM in a research report on Tuesday. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Sirius XM has an average rating of “Hold” and an average price target of $4.42.

Insider Activity at Sirius XM

In related news, Director James E. Meyer sold 800,000 shares of the 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 owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director James E. Meyer sold 800,000 shares of the 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 owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total transaction of $527,293.90. Following the sale, the insider now owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

About Sirius XM

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.