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

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

Several other equities analysts have also issued reports on SSTK. Needham & Company LLC cut their price target on Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Finally, Truist Financial lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Shutterstock currently has an average rating of “Hold” and a consensus target price of $45.33.

Shutterstock Trading Up 0.3 %

Shares of NYSE SSTK opened at $19.61 on Friday. Shutterstock has a 1-year low of $18.95 and a 1-year high of $49.35. The company has a 50-day moving average of $26.92 and a two-hundred day moving average of $30.31. The company has a market cap of $684.20 million, a PE ratio of 19.22 and a beta of 1.12. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23.

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

Shutterstock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.33 per share. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 6.73%. The ex-dividend date of this dividend is Thursday, March 6th. Shutterstock’s payout ratio is presently 130.69%.

Institutional Trading of Shutterstock

A number of hedge funds have recently modified their holdings of the company. Truvestments Capital LLC acquired a new stake in Shutterstock in the third quarter worth $31,000. Amundi increased its position in shares of Shutterstock by 26.2% in the 4th quarter. Amundi now owns 2,350 shares of the business services provider’s stock valued at $71,000 after buying an additional 488 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Shutterstock by 167.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock worth $76,000 after buying an additional 1,565 shares during the period. R Squared Ltd bought a new position in Shutterstock during the fourth quarter worth about $108,000. Finally, Palouse Capital Management Inc. grew its stake in Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock valued at $132,000 after acquiring an additional 525 shares during the period. 82.79% of the stock is currently owned by institutional investors and hedge funds.

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.