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

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

Shutterstock Price Performance

Shares of SSTK traded down $0.76 during trading hours on Tuesday, reaching $23.72. 75,003 shares of the company’s stock traded hands, compared to its average volume of 730,119. Shutterstock has a 12 month low of $22.81 and a 12 month high of $54.40. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. The stock has a market cap of $827.04 million, a PE ratio of 23.23 and a beta of 1.08. The firm’s 50 day simple moving average is $29.82 and its 200-day simple moving average is $31.84.

Shutterstock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be paid a $0.33 dividend. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date is Thursday, March 6th. Shutterstock’s dividend payout ratio is currently 129.41%.

Analysts Set New Price Targets

A number of brokerages have weighed in on SSTK. Truist Financial cut their target price on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Needham & Company LLC lowered their target price on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, StockNews.com initiated coverage on Shutterstock in a research report on Wednesday, February 19th. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Shutterstock has an average rating of “Hold” and an average target price 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.