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

Sirius XM Holdings Inc. (NASDAQ:SIRI) announced a quarterly dividend on Wednesday, July 24th, RTT News reports. Stockholders 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 dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, August 9th.

Sirius XM has increased its dividend payment by an average of 22.0% annually over the last three years. Sirius XM has a payout ratio of 35.5% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 2.3 %

Shares of SIRI opened at $3.08 on Wednesday. Sirius XM has a 52 week low of $2.45 and a 52 week high of $5.78. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 1.06 and a beta of 1.08. The business has a 50-day simple moving average of $3.13 and a two-hundred day simple moving average of $3.64.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barrington Research reaffirmed an “outperform” rating and issued a $4.75 target price on shares of Sirius XM in a report on Monday, July 15th. Seaport Res Ptn upgraded Sirius XM from a “neutral” rating to a “buy” rating in a research report on Monday, April 29th. Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $5.05 to $4.90 in a research note on Wednesday, April 24th. Guggenheim dropped their target price on Sirius XM from $3.30 to $2.90 and set a “neutral” rating for the company in a report on Thursday, June 27th. Finally, StockNews.com started coverage on Sirius XM in a report on Saturday. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Sirius XM presently has a consensus rating of “Hold” and an average price target of $3.80.

Insider Transactions at Sirius XM

In related news, Director Kristina Salen sold 12,518 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total value of $32,546.80. Following the transaction, the director now 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 can be accessed through the SEC website. Corporate insiders own 0.79% of the company’s stock.

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.