Shutterstock, Inc. (NYSE:SSTK) Plans $0.30 Quarterly Dividend

Shutterstock, Inc. (NYSE:SSTK) announced a quarterly dividend on Monday, October 21st,Zacks Dividends reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.30 per share by the business services provider on Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Friday, November 29th.

Shutterstock has raised its dividend by an average of 16.7% annually over the last three years. Shutterstock has a dividend payout ratio of 25.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Shutterstock to earn $3.09 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 38.8%.

Shutterstock Trading Up 0.4 %

Shares of Shutterstock stock traded up $0.11 during trading on Wednesday, reaching $31.50. 44,339 shares of the company were exchanged, compared to its average volume of 507,441. The business has a 50-day moving average price of $32.11 and a 200-day moving average price of $35.91. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 31.69 and a beta of 1.10. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock has a twelve month low of $28.85 and a twelve month high of $54.40.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. The business had revenue of $250.59 million for the quarter, compared to the consensus estimate of $240.90 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. Shutterstock’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company posted $0.99 EPS. Sell-side analysts anticipate that Shutterstock will post 3.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SSTK. Morgan Stanley lowered their price objective on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 21st. Truist Financial dropped their price target on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Shutterstock in a research note on Tuesday, October 29th. Finally, StockNews.com cut shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th.

Shutterstock Company Profile

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.