Shutterstock (NYSE:SSTK) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Shutterstock (NYSE:SSTK) in a research note released on Thursday morning. The brokerage issued a hold rating on the business services provider’s stock.

Several other analysts have also recently commented on the company. Truist Financial cut Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday. Needham & Company LLC dropped their price objective on Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Shutterstock presently has an average rating of “Hold” and an average target price of $50.33.

Shutterstock Stock Down 3.5 %

SSTK opened at $22.00 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The business has a 50 day simple moving average of $29.49 and a 200-day simple moving average of $31.68. The stock has a market capitalization of $766.77 million, a P/E ratio of 21.56 and a beta of 1.08. Shutterstock has a 12 month low of $21.81 and a 12 month high of $54.40.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Tuesday, February 25th. The business services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). The business had revenue of $250.30 million during the quarter, compared to analyst estimates of $254.16 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 earnings per share. On average, equities analysts anticipate that Shutterstock will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be paid a $0.33 dividend. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 6.00%. The ex-dividend date is Thursday, March 6th. Shutterstock’s dividend payout ratio (DPR) is presently 130.69%.

Hedge Funds Weigh In On Shutterstock

Several hedge funds have recently bought and sold shares of the company. FMR LLC increased its position in Shutterstock by 397.5% during the third quarter. FMR LLC now owns 39,193 shares of the business services provider’s stock worth $1,386,000 after buying an additional 31,315 shares in the last quarter. Geode Capital Management LLC increased its position in Shutterstock by 4.6% during the third quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock worth $20,275,000 after buying an additional 25,050 shares in the last quarter. Barclays PLC increased its position in Shutterstock by 238.6% during the third quarter. Barclays PLC now owns 50,565 shares of the business services provider’s stock worth $1,788,000 after buying an additional 35,632 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in Shutterstock during the third quarter worth $8,493,000. Finally, Harbor Capital Advisors Inc. increased its position in Shutterstock by 110.7% during the third quarter. Harbor Capital Advisors Inc. now owns 34,588 shares of the business services provider’s stock worth $1,223,000 after buying an additional 18,174 shares in the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.

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.