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

Shutterstock (NYSE:SSTK) posted its quarterly earnings data 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. The firm had revenue of $250.30 million during the quarter, compared to analysts’ expectations of $254.16 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the business earned $0.72 earnings per share.

Shutterstock Stock Performance

NYSE SSTK opened at $22.83 on Wednesday. The business has a 50 day moving average price of $29.82 and a 200 day moving average price of $31.84. The company has a market capitalization of $795.70 million, a P/E ratio of 22.38 and a beta of 1.08. Shutterstock has a 1-year low of $22.41 and a 1-year 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 company 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 dividend of $0.33 per share. 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. This represents a $1.32 annualized dividend and a dividend yield of 5.78%. Shutterstock’s payout ratio is 129.41%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SSTK. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. 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 research report on Monday, January 13th. Truist Financial cut Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, StockNews.com assumed coverage on Shutterstock in a report on Wednesday, February 19th. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average 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.