Shutterstock, Inc. (NYSE:SSTK) Announces $0.33 Quarterly Dividend

Shutterstock, Inc. (NYSE:SSTK - Get Free Report) declared a quarterly dividend on Tuesday, July 22nd, Wall Street Journal reports. Investors of record on Thursday, September 4th will be paid a dividend of 0.33 per share by the business services provider on Thursday, September 18th. This represents a $1.32 annualized dividend and a yield of 6.56%. The ex-dividend date is Thursday, September 4th.

Shutterstock has a dividend payout ratio of 49.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Shutterstock to earn $3.46 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 38.2%.

Shutterstock Trading Up 0.9%

Shutterstock stock traded up $0.18 during trading hours on Friday, reaching $20.12. 217,318 shares of the company's stock traded hands, compared to its average volume of 279,303. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43. Shutterstock has a fifty-two week low of $14.35 and a fifty-two week high of $46.10. The firm has a market capitalization of $709.23 million, a price-to-earnings ratio of 18.46 and a beta of 1.15. The firm's 50 day moving average is $18.76 and its 200-day moving average is $21.00.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The business services provider reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.26 by ($0.23). Shutterstock had a net margin of 4.00% and a return on equity of 17.70%. The firm had revenue of $242.62 million during the quarter, compared to analyst estimates of $249.44 million. During the same quarter in the prior year, the business earned $1.13 earnings per share. The business's revenue was up 13.2% on a year-over-year basis. On average, analysts predict that Shutterstock will post 3.12 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Shutterstock stock. Millennium Management LLC grew its holdings in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 109.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 626,615 shares of the business services provider's stock after acquiring an additional 327,203 shares during the quarter. Millennium Management LLC owned 1.78% of Shutterstock worth $11,674,000 at the end of the most recent quarter. Institutional investors own 82.79% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Needham & Company LLC decreased their target price on shares of Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, June 2nd. Wall Street Zen raised Shutterstock to a "hold" rating in a report on Saturday, June 14th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $43.67.

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.