Shutterstock (NYSE:SSTK) Issues Earnings Results

Shutterstock (NYSE:SSTK) issued its quarterly earnings data on Tuesday. The business services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25), Briefing.com reports. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company had revenue of $250.30 million during the quarter, compared to analysts’ expectations of $254.16 million. During the same period last year, the company earned $0.72 earnings per share. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year.

Shutterstock Stock Performance

SSTK stock traded down $0.76 during mid-day trading on Tuesday, hitting $23.72. The company had a trading volume of 75,003 shares, compared to its average volume of 730,119. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market cap of $827.04 million, a PE ratio of 23.23 and a beta of 1.08. Shutterstock has a 12 month low of $22.81 and a 12 month high of $54.40. The stock’s fifty day moving average price is $29.82 and its two-hundred day moving average price is $31.84.

Shutterstock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.32 annualized dividend and a yield of 5.56%. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio is presently 129.41%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SSTK. Truist Financial cut their price objective on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. StockNews.com started coverage on shares of Shutterstock in a research note on Wednesday, February 19th. They issued a “hold” rating for the company. Finally, Needham & Company LLC cut their target price on Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $50.33.

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.