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

Sirius XM Holdings Inc. (NASDAQ:SIRI) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Friday, February 7th will be given a dividend of 0.27 per share on Tuesday, February 25th. This represents a $1.08 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend is Friday, February 7th.

Sirius XM has increased its dividend payment by an average of 17.5% annually over the last three years. Sirius XM has a dividend payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sirius XM to earn $3.10 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 34.8%.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $22.13 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. Sirius XM has a twelve month low of $20.47 and a twelve month high of $55.40. The stock has a market cap of $7.51 billion, a P/E ratio of -3.49, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The firm’s fifty day simple moving average is $24.09 and its 200 day simple moving average is $27.43.

Wall Street Analyst Weigh In

Several brokerages have commented on SIRI. Pivotal Research lowered their price objective on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a report on Friday, November 1st. StockNews.com started coverage on Sirius XM in a research report on Wednesday, November 13th. They set a “sell” rating on the stock. Bank of America reiterated an “underperform” rating and issued a $23.00 price objective on shares of Sirius XM in a report on Thursday, October 24th. Citigroup upped their target price on shares of Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, September 26th. Finally, Benchmark reissued a “buy” rating and set a $43.00 price target on shares of Sirius XM in a research report on Tuesday, October 15th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.42.

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.