Sirius XM Holdings Inc. (SIRI) to Distribute Quarterly Dividend of $0.27 on November 21st

Sirius XM Holdings Inc. (NASDAQ:SIRI) declared a quarterly dividend on Tuesday, October 22nd, RTT News reports. Stockholders of record on Tuesday, November 5th will be given a dividend of 0.27 per share on Thursday, November 21st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.03%. This is a boost from Sirius XM’s previous quarterly dividend of $0.27.

Sirius XM has increased its dividend by an average of 22.0% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Sirius XM has a payout ratio of 3.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sirius XM to earn $3.39 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 3.2%.

Sirius XM Trading Down 1.5 %

NASDAQ SIRI opened at $26.81 on Thursday. Sirius XM has a 1 year low of $22.18 and a 1 year high of $57.80. The company has a fifty day simple moving average of $27.12 and a 200 day simple moving average of $29.65. The company has a market cap of $103.13 billion, a P/E ratio of 81.24, a P/E/G ratio of 0.73 and a beta of 1.07.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. Equities research analysts forecast that Sirius XM will post 3.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. The Goldman Sachs Group cut their price target on Sirius XM from $32.50 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, September 17th. Barrington Research reiterated an “outperform” rating and set a $47.50 target price on shares of Sirius XM in a research note on Monday, July 15th. Morgan Stanley restated an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a research report on Tuesday, September 24th. JPMorgan Chase & Co. started coverage on shares of Sirius XM in a report on Wednesday, October 9th. They set an “underweight” rating and a $20.00 price objective on the stock. Finally, Rosenblatt Securities increased their target price on shares of Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Four analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.25.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was acquired at an average price of $24.95 per share, for a total transaction of $31,418,512.05. Following the transaction, the insider now directly owns 108,719,088 shares of the company’s stock, valued at $2,712,541,245.60. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Scott Andrew Greenstein sold 144,723 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the sale, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Berkshire Hathaway Inc purchased 1,259,259 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was acquired at an average cost of $24.95 per share, with a total value of $31,418,512.05. Following the completion of the acquisition, the insider now directly owns 108,719,088 shares of the company’s stock, valued at $2,712,541,245.60. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 2,646,761 shares of company stock worth $65,952,329. Company 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.