Shutterstock (NYSE:SSTK) Releases Quarterly Earnings Results, Misses Estimates By $0.25 EPS

Shutterstock (NYSE:SSTK) released its quarterly earnings results on Tuesday. The business services provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $250.30 million for the quarter, compared to analyst estimates of $254.16 million. During the same period last year, the company earned $0.72 EPS. The company’s revenue was up 15.2% compared to the same quarter last year.

Shutterstock Trading Down 0.2 %

Shares of Shutterstock stock opened at $22.75 on Thursday. Shutterstock has a 12-month low of $22.36 and a 12-month high of $54.40. The stock has a market cap of $793.09 million, a P/E ratio of 22.30 and a beta of 1.08. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $29.49 and its 200-day moving average is $31.68.

Shutterstock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.80%. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio is currently 130.69%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Needham & Company LLC reduced their price target on Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Truist Financial downgraded Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday. StockNews.com assumed coverage on Shutterstock in a research report on Thursday. They set a “hold” rating for the company. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $50.33.

Shutterstock Company Profile

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.