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

Shutterstock, Inc. (NYSE:SSTK) announced a quarterly dividend on Monday, October 21st,Zacks Dividends reports. Shareholders 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 is Friday, November 29th.

Shutterstock has increased 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. Equities 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 Stock Up 1.2 %

Shares of SSTK opened at $31.76 on Thursday. Shutterstock has a 52-week low of $28.85 and a 52-week high of $54.40. The company has a market capitalization of $1.11 billion, a PE ratio of 31.14 and a beta of 1.10. The stock has a fifty day simple moving average of $32.03 and a two-hundred day simple moving average of $35.88. 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 (NYSE:SSTK) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.25. The firm had revenue of $250.59 million during the quarter, compared to the consensus estimate of $240.90 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company earned $0.99 EPS. As a group, equities analysts forecast that Shutterstock will post 3.07 EPS for the current year.

Analyst Upgrades and Downgrades

SSTK has been the subject of a number of recent analyst reports. StockNews.com downgraded Shutterstock from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of Shutterstock in a research report on Tuesday, October 29th. Morgan Stanley cut their price objective on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 21st. Finally, Truist Financial cut their price objective on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th.

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.