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

Sirius XM Holdings Inc. (NASDAQ:SIRI) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Friday, February 7th will be paid a dividend of 0.27 per share on Tuesday, February 25th. This represents a $1.08 annualized dividend and a dividend yield of 4.89%.

Sirius XM has raised its dividend by an average of 17.5% per year over the last three years. Sirius XM has a payout ratio of 34.5% meaning its dividend is sufficiently covered by earnings. 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 Down 0.4 %

Shares of NASDAQ:SIRI opened at $22.10 on Thursday. 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 52-week low of $20.47 and a 52-week high of $55.40. The stock’s fifty day simple moving average is $24.09 and its 200-day simple moving average is $27.43. The company has a market capitalization of $7.50 billion, a P/E ratio of -3.49, a P/E/G ratio of 1.11 and a beta of 1.05.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SIRI. Bank of America restated an “underperform” rating and issued a $23.00 price objective on shares of Sirius XM in a research report on Thursday, October 24th. Pivotal Research reduced their target price on Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Seaport Res Ptn downgraded Sirius XM from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Barrington Research reduced their target price on Sirius XM from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, December 13th. Finally, Guggenheim reiterated a “buy” rating and set a $30.00 target price on shares of Sirius XM in a research report on Wednesday, December 11th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus 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.