Shutterstock, Inc. (SSTK) to Issue Quarterly Dividend of $0.33 on March 20th

Shutterstock, Inc. (NYSE:SSTK) declared a quarterly dividend on Tuesday, January 28th, Wall Street Journal reports. Shareholders of record on Thursday, March 6th will be given a dividend of 0.33 per share by the business services provider on Thursday, March 20th. This represents a $1.32 annualized dividend and a yield of 6.33%. The ex-dividend date is Thursday, March 6th. This is an increase from Shutterstock’s previous quarterly dividend of $0.30.

Shutterstock has raised its dividend payment by an average of 12.6% annually over the last three years. Shutterstock has a dividend payout ratio of 40.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 3.0 %

Shutterstock stock opened at $20.84 on Tuesday. 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 has a 52 week low of $20.81 and a 52 week high of $54.40. The company has a market capitalization of $727.19 million, a price-to-earnings ratio of 20.43 and a beta of 1.08. The stock has a 50-day moving average price of $28.97 and a 200 day moving average price of $31.35.

Shutterstock (NYSE:SSTK) last released its earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The business had revenue of $250.30 million for the quarter, compared to analysts’ expectations of $254.16 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. Shutterstock’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. Sell-side analysts anticipate that Shutterstock will post 3.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SSTK. Needham & Company LLC cut their price target on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Truist Financial downgraded Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, StockNews.com began coverage on Shutterstock in a report on Thursday, February 27th. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Shutterstock has an average rating of “Hold” and a consensus price target of $50.33.

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.