Sirius XM Holdings Inc. (NASDAQ:SIRI) Plans $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 dividend on an annualized basis and a dividend yield of 4.89%.

Sirius XM has increased its dividend by an average of 17.5% per year over the last three years. Sirius XM has a 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 Down 0.4 %

Shares of SIRI traded down $0.09 during midday trading on Wednesday, hitting $22.10. 4,246,237 shares of the company’s stock traded hands, compared to its average volume of 4,883,250. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of -3.49, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. The firm’s fifty day moving average is $24.17 and its 200-day moving average is $27.47. Sirius XM has a 1 year low of $20.47 and a 1 year high of $55.40.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SIRI. Benchmark reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Sirius XM in a research note on Tuesday, October 15th. Bank of America reiterated an “underperform” rating and issued a $23.00 target price on shares of Sirius XM in a research note on Thursday, October 24th. Rosenblatt Securities raised their price target on Sirius XM from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. StockNews.com started coverage on shares of Sirius XM in a research report on Wednesday, November 13th. They set a “sell” rating for the company. Finally, Wells Fargo & Company cut their price target on Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a research note on Thursday, December 19th. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.58.

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.