Shutterstock, Inc. (SSTK) to Issue Quarterly Dividend of $0.30 on December 13th

Shutterstock, Inc. (NYSE:SSTK) declared 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 3.79%. 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 payout ratio of 25.9% meaning 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 Price Performance

NYSE SSTK traded up $0.25 during trading on Wednesday, reaching $31.64. The company’s stock had a trading volume of 56,356 shares, compared to its average volume of 507,465. The firm has a fifty day moving average of $32.11 and a 200 day moving average of $35.91. Shutterstock has a one year low of $28.85 and a one year high of $54.40. The stock has a market capitalization of $1.10 billion, a PE ratio of 31.69 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.

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, topping the consensus estimate of $1.06 by $0.25. The company had revenue of $250.59 million during the quarter, compared to analyst estimates of $240.90 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. Analysts expect that Shutterstock will post 3.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.