Shutterstock Inc (NYSE:SSTK) declared a quarterly dividend on Wednesday, July 29th, Wall Street Journal reports. Investors of record on Thursday, September 3rd will be given a dividend of 0.17 per share by the business services provider on Thursday, September 17th. This represents a $0.68 annualized dividend and a yield of 1.33%. The ex-dividend date is Wednesday, September 2nd.
Shutterstock has a dividend payout ratio of 55.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Shutterstock to earn $0.78 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 87.2%.
SSTK stock opened at $50.98 on Thursday. The company has a market capitalization of $1.82 billion, a PE ratio of 57.18, a P/E/G ratio of 3.52 and a beta of 1.24. Shutterstock has a 12 month low of $28.76 and a 12 month high of $52.93. The firm’s 50-day moving average is $37.31 and its 200 day moving average is $37.99.
Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.36. The company had revenue of $159.23 million for the quarter, compared to the consensus estimate of $149.97 million. Shutterstock had a net margin of 5.05% and a return on equity of 11.02%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. As a group, analysts predict that Shutterstock will post 0.61 earnings per share for the current fiscal year.
In other news, Director Jonathan Oringer sold 13,356 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $37.39, for a total value of $499,380.84. Following the sale, the director now directly owns 16,240,365 shares in the company, valued at approximately $607,227,247.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 113,652 shares of company stock worth $4,216,972 over the last 90 days. Company insiders own 46.80% of the company’s stock.
A number of research analysts have commented on the stock. TheStreet raised shares of Shutterstock from a “c” rating to a “b” rating in a research report on Tuesday. Zacks Investment Research raised shares of Shutterstock from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Saturday, May 30th. SunTrust Banks cut their target price on shares of Shutterstock from $38.00 to $37.00 and set a “hold” rating on the stock in a research report on Friday, April 24th. Finally, Needham & Company LLC assumed coverage on shares of Shutterstock in a research report on Thursday, July 23rd. They set a “buy” rating and a $50.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Shutterstock presently has an average rating of “Buy” and an average target price of $42.67.
Shutterstock, Inc provides digital content, and tools and services in North America, Europe, and internationally. It offers digital imagery services that include licensed photographs, vectors, illustrations, and video clips, which is used in visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and music services comprising music tracks and sound effects that are used to complement digital imagery.
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