Sirius XM Management Inc. (NASDAQ: SIRI) declared a quarterly dividend on Monday, October 25, RTT News reports. Shareholders of record on Friday November 5 will receive a dividend of 0.022 per share on Monday November 29. This represents a dividend of $ 0.09 on an annualized basis and a dividend yield of 1.45%. This is a boost from Sirius XM’s previous quarterly dividend of $ 0.01.

Sirius XM has increased its dividend by 33.1% over the past three years and has increased its dividend each year for the past 4 years. Sirius XM has a dividend payout ratio of 20.0%, which means its dividend is sufficiently covered by earnings. Equity research analysts expect Sirius XM to earn $ 0.33 per share next year, which means the company should continue to be able to cover its annual dividend of $ 0.06. with an expected future payout rate of 18.2%.

Sirius XM stock traded down $ 0.03 at midday Monday, reaching $ 6.04. 11,479,611 shares of the company were traded, for an average volume of 21,721,789. Sirius XM has a one-year low of $ 5.66 and a one-year high of $ 8.14. The stock has a 50-day moving average of $ 6.13 and a two-hundred-day moving average of $ 6.26. The stock has a market cap of $ 24.46 billion, a P / E ratio of 121.40, a P / E / G ratio of 1.66 and a beta of 1.06.

Sirius XM (NASDAQ: SIRI) last released its results on Tuesday, July 27. The company reported earnings per share of $ 0.10 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.07 of $ 0.03. Sirius XM recorded a negative return on equity of 62.88% and a net margin of 2.93%. The company posted revenue of $ 2.16 billion in the quarter, compared to $ 2.06 billion according to analysts’ estimates. During the same period of the previous year, the company achieved EPS of $ 0.05. The company’s revenue for the quarter increased 15.2% year-over-year. Analysts expect Sirius XM to post 0.3 EPS for the current fiscal year.

In other Sirius XM news, insider Scott Andrew Greenstein sold 214,948 shares of the company in a trade on Wednesday, July 28. The stock was sold for an average price of $ 6.62, for a total value of $ 1,422,955.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.93% of the shares of the company.

An institutional investor recently increased its position in Sirius XM shares. Morgan Stanley increased its position in Sirius XM Holdings Inc. (NASDAQ: SIRI) by 58.1% in the 2nd quarter, according to its latest filing with the SEC. The company held 6,244,216 shares of the company after purchasing an additional 2,295,491 shares during the period. Morgan Stanley owned 0.15% of Sirius XM valued at $ 40,837,000 at the end of the most recent reporting period. 13.46% of the shares are held by institutional investors and hedge funds.

Several equity research analysts have weighed on the company recently. Barrington Research reissued a “buy” note and issued a price target of $ 8.00 on Sirius XM shares in a research report on Thursday, July 29. Citigroup raised its price target on Sirius XM from $ 6.75 to $ 7.65 and gave the stock a “buy” rating in a research report on Thursday, July 29. Deutsche Bank Aktiengesellschaft raised its price target on Sirius XM from $ 7.75 to $ 8.00 and gave the stock a “buy” rating in a report released on Wednesday, July 28. Barclays downgraded Sirius XM from an “underweight” to an “equal weight” rating and set a target price of $ 6.00 for the company in a research note on Tuesday, September 28. Finally, JPMorgan Chase & Co. downgraded Sirius XM’s rating from an “overweight” to a “neutral” rating and lowered its price target for the share from $ 8.00 to $ 7.00 in a year. research note Friday, October 8. Five research analysts rated the stock with a conservation rating and five gave the company’s stock a buy rating. According to MarketBeat.com, the company currently has an average “Buy” rating and a consensus price target of $ 7.27.

Sirius XM announced that its board of directors launched a share buyback plan on Monday, July 19 that allows the company to repurchase $ 2.00 billion in outstanding shares. This buyback authorization allows the company to buy back up to 7.7% of its shares through market purchases. Share buyback plans are often a sign that company management believes its stock is undervalued.

About Sirius XM

Sirius XM Holdings, Inc is a radio company. The company offers music, sports, entertainment, humor, talk, news, traffic and weather channels, as well as infotainment services. Its branded channels include SiriusXM Traffic, SiriusXM Travel Link, NavTraffic, NavWeather, SiriusXM Aviation and SiriusXM Marine.

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