Shutterstock (NYSE:SSTK) Issues Earnings Results, Misses Expectations 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 analysts’ consensus estimates 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 business had revenue of $250.30 million during the quarter, compared to the consensus estimate of $254.16 million. During the same quarter last year, the company posted $0.72 EPS. The firm’s revenue was up 15.2% on a year-over-year basis.

Shutterstock Stock Performance

Shares of NYSE SSTK opened at $22.75 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 stock’s fifty day moving average price is $29.49 and its two-hundred day moving average price is $31.68. Shutterstock has a one year low of $22.36 and a one year high of $54.40. The firm has a market cap of $793.09 million, a price-to-earnings ratio of 22.30 and a beta of 1.08.

Shutterstock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.80%. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, March 6th. Shutterstock’s dividend payout ratio is currently 130.69%.

Wall Street Analysts Forecast Growth

SSTK has been the topic of a number of research analyst reports. Truist Financial cut Shutterstock from a “buy” rating to a “hold” rating in a research note on Tuesday. StockNews.com initiated coverage on Shutterstock in a research note on Thursday. They issued a “hold” rating on the stock. Needham & Company LLC dropped their price target on Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, JMP Securities restated a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to 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.