Sirius XM Holdings Inc. (NASDAQ:SIRI) Shares to Pay Quarterly Dividend of $0.27

Key Points

• Sirius XM declared a quarterly dividend of $0.27 per share, payable November 23 to shareholders of record on November 6. The annualized dividend is $1.08 per share, representing a 4.0% yield.
• The dividend appears well covered, with a current payout ratio of 36.1% and an expected future payout ratio of 32.3%; the company has increased its dividend for seven consecutive years.
• Analysts maintain a consensus “Hold” rating with a $32.15 price target, while shares recently traded at $27.20. Recent quarterly earnings missed estimates, although revenue slightly exceeded expectations.

Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report) announced a quarterly dividend on Wednesday, October 21st. Shareholders of record on Friday, November 6th will be paid a dividend of $0.27 per share on Monday, November 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, November 6th.

Sirius XM has raised its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 7 years. Sirius XM has a payout ratio of 36.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sirius XM to earn $3.34 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 32.3%.

Sirius XM Stock Up 0.9%

Shares of SIRI stock traded up $0.24 during mid-day trading on Thursday, hitting $27.20. The stock had a trading volume of 544,480 shares, compared to its average volume of 4,763,279. Sirius XM has a 12-month low of $19.76 and a 12-month high of $32.66. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.46 and a quick ratio of 0.46. The firm's 50-day moving average is $27.63 and its two-hundred day moving average is $27.95. The firm has a market capitalization of $9.17 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 0.49 and a beta of 0.98.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.08). The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The business's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 earnings per share. On average, analysts predict that Sirius XM will post 2.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SIRI has been the topic of a number of recent research reports. Morgan Stanley increased their price objective on shares of Sirius XM from $24.00 to $28.00 and gave the company an "underweight" rating in a research note on Tuesday, July 21st. William Blair raised shares of Sirius XM to a "market perform" rating in a research note on Wednesday, September 2nd. Cantor Fitzgerald assumed coverage on Sirius XM in a report on Wednesday, September 2nd. They set an "overweight" rating for the company. JPMorgan Chase & Co. lifted their price target on Sirius XM from $26.00 to $34.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $45.00 price target on shares of Sirius XM in a research report on Tuesday, July 28th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.15.

About Sirius XM

Sirius XM Holdings Inc is a media and entertainment company that provides subscription-based audio programming through its SiriusXM service. The company delivers a broad range of commercial-free music, live sports, news, talk and entertainment programming, including exclusive channels, original shows and coverage of major events.

SiriusXM content is distributed primarily through satellite radio and internet streaming. Subscribers can access the service in vehicles, through the SiriusXM mobile app and website, and on supported connected devices.

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