Shutterstock, Inc. (NYSE:SSTK) Announces Quarterly Dividend of $0.21

Shutterstock, Inc. (NYSE:SSTK) announced a quarterly dividend on Tuesday, January 12th, Zacks reports. Shareholders of record on Thursday, March 4th will be paid a dividend of 0.21 per share by the business services provider on Thursday, March 18th. This represents a $0.84 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Wednesday, March 3rd. This is an increase from Shutterstock’s previous quarterly dividend of $0.17.

Shares of Shutterstock stock opened at $73.65 on Thursday. Shutterstock has a fifty-two week low of $28.76 and a fifty-two week high of $77.07. The firm has a fifty day moving average price of $70.12 and a two-hundred day moving average price of $57.16. The company has a market cap of $2.67 billion, a PE ratio of 80.93, a price-to-earnings-growth ratio of 1.98 and a beta of 1.12.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Tuesday, October 27th. The business services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.51. The firm had revenue of $165.70 million during the quarter, compared to the consensus estimate of $160.82 million. Shutterstock had a net margin of 5.05% and a return on equity of 10.85%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 EPS. As a group, analysts forecast that Shutterstock will post 1.22 earnings per share for the current year.

A number of research firms have recently commented on SSTK. Bank of America began coverage on shares of Shutterstock in a report on Tuesday, September 29th. They set a “buy” rating and a $63.00 price objective for the company. BidaskClub downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Monday, December 28th. JMP Securities raised their price objective on shares of Shutterstock from $72.00 to $85.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 28th. Stifel Nicolaus began coverage on shares of Shutterstock in a report on Friday, October 23rd. They set a “buy” rating and a $70.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Shutterstock in a report on Friday, October 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Shutterstock currently has an average rating of “Buy” and an average price target of $67.71.

In other news, Director Jonathan Oringer sold 85,000 shares of Shutterstock stock in a transaction that occurred on Tuesday, December 1st. The shares were sold at an average price of $70.78, for a total transaction of $6,016,300.00. Following the completion of the sale, the director now owns 13,676,923 shares in the company, valued at approximately $968,052,609.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 46.80% of the stock is owned by insiders.

About Shutterstock

Shutterstock, Inc, a technology company, provides content, and tools and services in North America, Europe, and internationally. It 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, and 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 digital imagery.

Further Reading: Hold Rating