Sirius XM Holdings Inc. Declares Quarterly Dividend of $0.27 (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report) announced a quarterly dividend on Wednesday, July 23rd, RTT News reports. Stockholders of record on Friday, August 8th will be given a dividend of 0.27 per share on Wednesday, August 27th. This represents a $1.08 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Friday, August 8th.

Sirius XM has a payout ratio of 36.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sirius XM to earn $3.24 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 33.3%.

Sirius XM Trading Down 1.6%

Shares of NASDAQ:SIRI traded down $0.39 during trading on Friday, hitting $23.79. The company had a trading volume of 1,633,245 shares, compared to its average volume of 4,360,611. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of -3.65, a price-to-earnings-growth ratio of 0.35 and a beta of 0.92. Sirius XM has a one year low of $18.69 and a one year high of $40.20. The company has a fifty day simple moving average of $22.74 and a two-hundred day simple moving average of $22.66. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.42 and a quick ratio of 0.42.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.11). Sirius XM had a positive return on equity of 6.77% and a negative net margin of 25.00%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the business posted $0.07 earnings per share. Sirius XM's revenue was down 4.3% on a year-over-year basis. As a group, equities analysts forecast that Sirius XM will post 3.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Sirius XM from $16.00 to $19.00 and gave the company an "underweight" rating in a report on Wednesday, July 2nd. Guggenheim restated a "buy" rating and set a $29.00 target price on shares of Sirius XM in a research note on Thursday, June 26th. Morgan Stanley lifted their price target on Sirius XM from $21.00 to $22.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. Rosenblatt Securities lowered their price target on Sirius XM from $24.00 to $22.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Finally, Seaport Res Ptn raised Sirius XM from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Six analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Sirius XM has a consensus rating of "Hold" and a consensus price target of $26.50.

Insider Activity

In other news, Director Kristina Salen sold 1,651 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $22.27, for a total value of $36,767.77. Following the completion of the sale, the director directly owned 15,471 shares in the company, valued at $344,539.17. This represents a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SIRI. Brighton Jones LLC acquired a new position in Sirius XM during the fourth quarter worth $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Sirius XM by 11.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company's stock valued at $20,861,000 after buying an additional 92,111 shares during the last quarter. Focus Partners Wealth increased its holdings in Sirius XM by 5.2% in the first quarter. Focus Partners Wealth now owns 16,273 shares of the company's stock valued at $367,000 after buying an additional 800 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Sirius XM by 36.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company's stock worth $41,000 after purchasing an additional 493 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Sirius XM Company Profile

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.