Sirius XM Holdings Inc. (SIRI) To Go Ex-Dividend on August 9th

Sirius XM Holdings Inc. (NASDAQ:SIRI) declared 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 raised its dividend by an average of 22.0% per year over the last three years. Sirius XM has a dividend payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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. The stock’s 50-day moving average price is $3.13 and its 200 day moving average price is $3.64. Sirius XM has a 12-month low of $2.45 and a 12-month high of $5.78. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of 9.33, a P/E/G ratio of 1.06 and a beta of 1.08.

Wall Street Analyst Weigh In

SIRI has been the subject of a number of analyst reports. Barrington Research restated an “outperform” rating and set a $4.75 price target on shares of Sirius XM in a research note 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. Wells Fargo & Company dropped their price objective on Sirius XM from $3.00 to $2.50 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. The Goldman Sachs Group upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and reduced their target price for the company from $3.50 to $3.25 in a research note on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Sirius XM from $3.75 to $3.00 and set a “hold” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $3.80.

Insider Activity

In other news, Director Kristina Salen sold 12,518 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total transaction of $32,546.80. Following the completion of the sale, the director now owns 169,309 shares in the company, valued at $440,203.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.79% of the stock is owned by insiders.

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.