Shutterstock, Inc. (SSTK) To Go Ex-Dividend on November 29th

Shutterstock, Inc. (NYSE:SSTK) declared a quarterly dividend on Monday, October 21st,Zacks Dividends reports. Investors 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 annualized dividend and a yield of 3.81%. The ex-dividend date is Friday, November 29th.

Shutterstock has raised its dividend by an average of 16.7% annually over the last three years. Shutterstock has a dividend payout ratio of 25.9% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Up 0.4 %

Shares of Shutterstock stock traded up $0.11 on Wednesday, hitting $31.50. 44,339 shares of the company traded hands, compared to its average volume of 507,441. 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 12-month low of $28.85 and a 12-month high of $54.40. The company has a 50-day moving average price of $32.11 and a 200 day moving average price of $35.91. The company has a market cap of $1.10 billion, a PE ratio of 31.69 and a beta of 1.10.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.25. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm had revenue of $250.59 million for the quarter, compared to analyst estimates of $240.90 million. During the same quarter last year, the firm earned $0.99 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Sell-side analysts predict that Shutterstock will post 3.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SSTK. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price objective on shares of Shutterstock in a research note on Tuesday, October 29th. Morgan Stanley dropped their target price on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 21st. StockNews.com cut shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Truist Financial dropped their price objective on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th.

About Shutterstock

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.