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

Shutterstock (NYSE:SSTK) announced its quarterly earnings results on Tuesday. The business services provider reported $0.67 EPS 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 analysts’ expectations of $254.16 million. During the same period last year, the firm earned $0.72 EPS. Shutterstock’s revenue was up 15.2% compared to the same quarter last year.

Shutterstock Stock Down 4.5 %

NYSE:SSTK opened at $23.38 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market capitalization of $814.91 million, a price-to-earnings ratio of 23.19 and a beta of 1.08. Shutterstock has a one year low of $24.12 and a one year high of $54.40. The stock has a 50-day simple moving average of $29.82 and a 200 day simple moving average of $31.84.

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 $0.33 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.32 annualized dividend and a dividend yield of 5.65%. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s payout ratio is presently 129.41%.

Wall Street Analyst Weigh In

SSTK has been the topic of several recent analyst reports. Needham & Company LLC cut their price objective 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. StockNews.com started coverage on shares of Shutterstock in a report on Wednesday, February 19th. They issued a “hold” rating on the stock. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Finally, Truist Financial dropped their price target on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock 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.