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

Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report) 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 3.52%.

Sirius XM has increased its dividend by an average of 22.0% annually over the last three years and has increased its dividend every year for the last 7 years. Sirius XM has a 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 Down 4.4 %

NASDAQ:SIRI traded down $0.14 during trading hours on Thursday, reaching $3.02. 31,686,232 shares of the stock were exchanged, compared to its average volume of 15,207,268. Sirius XM has a 52 week low of $2.98 and a 52 week high of $7.95. The stock has a market capitalization of $11.62 billion, a P/E ratio of 9.88, a P/E/G ratio of 1.07 and a beta of 1.04. The firm has a 50 day simple moving average of $3.92 and a 200-day simple moving average of $4.62.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced 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. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. The firm had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.30 billion. As a group, analysts expect that Sirius XM will post 0.29 earnings per share for the current year.

Insider Activity

In related news, Director James E. Meyer sold 800,000 shares of the company's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now owns 1,091,472 shares of the company's stock, valued at $5,370,042.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Joseph A. Inzerillo sold 107,611 shares of the firm's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total transaction of $527,293.90. Following the completion of the transaction, the insider now owns 746,816 shares of the company's stock, valued at $3,659,398.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James E. Meyer sold 800,000 shares of the business's stock in a transaction dated Friday, February 9th. The stock was 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 $5,370,042.24. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company's stock.

Wall Street Analyst Weigh In

SIRI has been the subject of a number of recent research reports. Benchmark lowered their price objective on shares of Sirius XM from $7.00 to $6.50 and set a "buy" rating for the company in a research report on Wednesday, March 27th. Citigroup upgraded Sirius XM from a "sell" rating to a "neutral" rating and dropped their price target for the stock from $4.10 to $3.30 in a research report on Wednesday. StockNews.com initiated coverage on Sirius XM in a report on Sunday. They issued a "hold" rating on the stock. Pivotal Research upgraded Sirius XM from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $5.05 to $4.90 in a research note on Wednesday. Finally, Wells Fargo & Company reduced their price target on shares of Sirius XM from $4.50 to $3.00 and set an "underweight" rating for the company in a report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $4.67.

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.