Shutterstock, Inc. (NYSE:SSTK) Raises Dividend to $0.36 Per Share

Shutterstock, Inc. (NYSE:SSTK) declared a quarterly dividend on Monday, January 26th. Stockholders of record on Thursday, March 5th will be paid a dividend of 0.36 per share by the business services provider on Thursday, March 19th. This represents a c) annualized dividend and a dividend yield of 7.4%. The ex-dividend date is Thursday, March 5th. This is a 9.1% increase from Shutterstock’s previous quarterly dividend of $0.33.

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 Price Performance

Shares of SSTK traded down $0.50 during trading hours on Wednesday, reaching $19.49. The stock had a trading volume of 188,223 shares, compared to its average volume of 183,768. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.53 and a current ratio of 0.53. Shutterstock has a 12 month low of $14.35 and a 12 month high of $32.00. The stock has a market capitalization of $692.32 million, a PE ratio of 11.60 and a beta of 1.27. The company’s 50-day moving average is $19.18 and its two-hundred day moving average is $20.68.

Shutterstock (NYSE:SSTK) last issued its earnings results on Wednesday, November 5th. The business services provider reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.48). Shutterstock had a return on equity of 16.30% and a net margin of 5.89%.The firm had revenue of $260.09 million during the quarter, compared to analyst estimates of $255.60 million. During the same period in the previous year, the company earned $1.31 EPS. Shutterstock’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts expect that Shutterstock will post 3.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Shutterstock from a “strong sell” rating to a “hold” rating in a research report on Monday. Wall Street Zen downgraded Shutterstock from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shutterstock in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Shutterstock presently has an average rating of “Hold” and an average target price of $25.00.

About Shutterstock

Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.