Sirius XM Holdings Inc. (NASDAQ:SIRI) Declares Dividend Increase – $0.27 Per Share

by · The Markets Daily

Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Free Report) declared a quarterly dividend on Tuesday, October 22nd, RTT News reports. Shareholders of record on Tuesday, November 5th will be given a dividend of 0.27 per share on Thursday, November 21st. This represents a $1.08 dividend on an annualized basis and a yield of 3.97%. This is an increase from Sirius XM’s previous quarterly dividend of $0.27.

Sirius XM has increased its dividend payment by an average of 22.0% annually over the last three years and has raised its dividend every year for the last 6 years. Sirius XM has a payout ratio of 3.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sirius XM to earn $3.39 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 3.2%.

Sirius XM Stock Performance

NASDAQ SIRI opened at $27.21 on Wednesday. The stock has a market cap of $104.67 billion, a PE ratio of 82.45, a P/E/G ratio of 0.73 and a beta of 1.07. The firm has a 50-day moving average of $27.17 and a 200-day moving average of $29.67. Sirius XM has a 52-week low of $22.18 and a 52-week high of $57.80.

Sirius XM (NASDAQ:SIRI – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. As a group, analysts predict that Sirius XM will post 3.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SIRI has been the topic of several recent research reports. Citigroup increased their price objective on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. began coverage on shares of Sirius XM in a research report on Wednesday, October 9th. They set an “underweight” rating and a $20.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. StockNews.com started coverage on shares of Sirius XM in a research report on Sunday. They set a “hold” rating on the stock. Finally, Guggenheim upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Wednesday, September 18th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $31.25.

Check Out Our Latest Research Report on SIRI

Insider Activity

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.60, for a total value of $4,573,246.80. Following the sale, the insider now directly owns 98,933 shares of the company’s stock, valued at $3,126,282.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of the business’s stock in a transaction on Friday, October 11th. The shares were purchased at an average price of $24.95 per share, for a total transaction of $31,418,512.05. Following the completion of the transaction, the insider now directly owns 108,719,088 shares of the company’s stock, valued at approximately $2,712,541,245.60. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the transaction, the insider now owns 98,933 shares of the company’s stock, valued at $3,126,282.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 2,646,761 shares of company stock worth $65,952,329. Insiders own 0.79% of the company’s stock.

About Sirius XM

(Get Free Report)

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.

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