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

Shutterstock, Inc. (NYSE:SSTK) announced a quarterly dividend on Monday, October 21st,Zacks Dividends reports. Stockholders of record on Friday, November 29th will be paid 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 dividend yield of 3.78%. The ex-dividend date of this dividend is Friday, November 29th.

Shutterstock has increased its dividend by an average of 16.7% per year over the last three years. Shutterstock has a dividend payout ratio of 25.9% indicating that its dividend is sufficiently covered by earnings. 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 1.2 %

Shares of NYSE:SSTK opened at $31.76 on Thursday. Shutterstock has a 1 year low of $28.85 and a 1 year high of $54.40. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 31.14 and a beta of 1.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The business’s 50 day moving average price is $32.03 and its 200-day moving average price is $35.88.

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

Analyst Upgrades and Downgrades

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

About Shutterstock

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.