Sirius XM Holdings Inc. (NASDAQ:SIRI) to Issue Quarterly Dividend of $0.02

Sirius XM Holdings Inc. (NASDAQ:SIRIGet Rating) announced a quarterly dividend on Tuesday, April 19th, RTT News reports. Stockholders of record on Friday, May 6th will be given a dividend of 0.022 per share on Wednesday, May 25th. This represents a $0.09 annualized dividend and a dividend yield of 1.40%.

Sirius XM has a payout ratio of 25.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sirius XM to earn $0.36 per share next year, which means the company should continue to be able to cover its $0.09 annual dividend with an expected future payout ratio of 25.0%.

NASDAQ SIRI opened at $6.26 on Tuesday. The company has a market cap of $24.71 billion, a PE ratio of 20.19, a P/E/G ratio of 2.07 and a beta of 0.95. The firm’s 50 day moving average price is $6.34 and its 200-day moving average price is $6.29. Sirius XM has a 52-week low of $5.75 and a 52-week high of $7.29.

Sirius XM (NASDAQ:SIRIGet Rating) last posted its earnings results on Tuesday, February 1st. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Sirius XM had a negative return on equity of 54.26% and a net margin of 15.10%. The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the business earned $0.07 earnings per share. Sirius XM’s revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts expect that Sirius XM will post 0.32 earnings per share for the current year.

A number of equities research analysts recently weighed in on SIRI shares. StockNews.com began coverage on Sirius XM in a research report on Thursday, March 31st. They set a “buy” rating on the stock. JPMorgan Chase & Co. downgraded shares of Sirius XM from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $7.00 to $6.00 in a research report on Thursday, January 13th. Wells Fargo & Company cut shares of Sirius XM from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $8.00 to $7.00 in a research report on Tuesday, January 4th. Morgan Stanley downgraded shares of Sirius XM from an “equal weight” rating to an “underweight” rating and set a $7.00 target price for the company. in a research note on Monday. Finally, Rosenblatt Securities started coverage on Sirius XM in a research report on Tuesday. They set a “buy” rating and a $8.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Sirius XM currently has a consensus rating of “Hold” and an average price target of $7.29.

In other Sirius XM news, Director James P. Holden sold 56,233 shares of the firm’s stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $6.21, for a total transaction of $349,206.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 53,494 shares of the company’s stock in a transaction on Friday, February 11th. The shares were sold at an average price of $6.24, for a total transaction of $333,802.56. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

A number of large investors have recently bought and sold shares of SIRI. Morgan Stanley raised its position in Sirius XM by 58.1% during the second quarter. Morgan Stanley now owns 6,244,216 shares of the company’s stock valued at $40,837,000 after acquiring an additional 2,295,491 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Sirius XM by 179.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 28,102 shares of the company’s stock worth $178,000 after buying an additional 18,052 shares in the last quarter. LPL Financial LLC grew its position in Sirius XM by 56.4% during the fourth quarter. LPL Financial LLC now owns 405,549 shares of the company’s stock valued at $2,575,000 after buying an additional 146,220 shares during the period. Alliancebernstein L.P. increased its holdings in Sirius XM by 1.2% in the fourth quarter. Alliancebernstein L.P. now owns 488,513 shares of the company’s stock valued at $3,102,000 after buying an additional 5,607 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of Sirius XM in the fourth quarter worth about $72,000. 12.64% of the stock is currently owned by institutional investors.

About Sirius XM (Get Rating)

Sirius XM Holdings Inc provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels.

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Dividend History for Sirius XM (NASDAQ:SIRI)

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