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

Shutterstock (NYSE:SSTK) issued its quarterly earnings data 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 net margin of 4.03% and a return on equity of 20.39%. The firm had revenue of $250.30 million during the quarter, compared to the consensus estimate of $254.16 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year.

Shutterstock Stock Down 4.5 %

SSTK opened at $23.38 on Tuesday. The company has a market capitalization of $814.91 million, a PE ratio of 23.19 and a beta of 1.08. The business has a 50-day moving average of $29.82 and a 200-day moving average of $31.84. Shutterstock has a fifty-two week low of $24.12 and a fifty-two week high of $54.40. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42.

Shutterstock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.65%. Shutterstock’s dividend payout ratio is 129.41%.

Analyst Ratings Changes

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