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

Sirius XM Holdings Inc. (NASDAQ:SIRI) declared a quarterly dividend on Wednesday, July 24th, RTT News reports. Investors of record on Friday, August 9th will be given a dividend of 0.0266 per share on Monday, August 26th. This represents a $0.11 annualized dividend and a yield of 2.67%.

Sirius XM has increased its dividend payment by an average of 22.0% per year over the last three years. Sirius XM has a dividend payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 5.0 %

NASDAQ:SIRI traded up $0.19 during mid-day trading on Wednesday, hitting $3.99. The company’s stock had a trading volume of 55,372,320 shares, compared to its average volume of 26,412,938. Sirius XM has a fifty-two week low of $2.45 and a fifty-two week high of $5.98. The company has a market capitalization of $15.35 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 1.14 and a beta of 1.08. The stock has a fifty day moving average of $3.01 and a 200-day moving average of $3.77.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data 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. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.06 earnings per share. On average, equities analysts anticipate that Sirius XM will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SIRI shares. Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $4.10 to $3.30 in a report on Wednesday, April 24th. The Goldman Sachs Group raised shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $3.50 to $3.25 in a report on Wednesday, May 1st. Evercore ISI raised shares of Sirius XM from an “underperform” rating to an “in-line” rating and dropped their price objective for the stock from $4.25 to $3.25 in a report on Monday, June 24th. Seaport Res Ptn raised shares of Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Finally, Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and lowered their price target for the company from $5.05 to $4.90 in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.11.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total value of $32,546.80. Following the transaction, the director now directly owns 169,309 shares of the company’s stock, valued at $440,203.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.