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

Shutterstock, Inc. (NYSE:SSTK - Get Free Report) declared a quarterly dividend on Tuesday, April 22nd, Wall Street Journal reports. Investors of record on Thursday, June 5th will be paid a dividend of 0.33 per share by the business services provider on Thursday, June 19th. This represents a $1.32 dividend on an annualized basis and a yield of 7.77%. The ex-dividend date is Thursday, June 5th.

Shutterstock has increased its dividend payment by an average of 12.6% annually over the last three years. Shutterstock has a dividend payout ratio of 46.3% indicating that its dividend is sufficiently covered by earnings. 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 0.6 %

Shares of Shutterstock stock traded up $0.10 during trading hours on Friday, reaching $16.99. The stock had a trading volume of 196,231 shares, compared to its average volume of 543,026. The firm has a market capitalization of $592.85 million, a price-to-earnings ratio of 16.66 and a beta of 1.13. Shutterstock has a 1 year low of $14.35 and a 1 year high of $46.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. The firm has a 50 day simple moving average of $18.79 and a two-hundred day simple moving average of $26.69.

Shutterstock (NYSE:SSTK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The business services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business had revenue of $250.30 million during the quarter, compared to analysts' expectations of $254.16 million. During the same quarter in the previous year, the business posted $0.72 EPS. The company's quarterly revenue was up 15.2% on a year-over-year basis. As a group, equities research analysts anticipate that Shutterstock will post 3.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. StockNews.com initiated coverage on Shutterstock in a research report on Tuesday, April 8th. They issued a "hold" rating on the stock. Needham & Company LLC lowered their target price on Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, March 7th. Truist Financial lowered Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $45.33.

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.