Shutterstock (NYSE:SSTK) Releases Quarterly Earnings Results

Shutterstock (NYSE:SSTK) released 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 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 analyst estimates of $254.16 million. During the same quarter in the prior year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year.

Shutterstock Stock Performance

Shutterstock stock opened at $22.83 on Wednesday. The stock has a fifty day moving average price of $29.82 and a 200 day moving average price of $31.84. Shutterstock has a 52 week low of $22.41 and a 52 week high of $54.40. The firm has a market capitalization of $795.70 million, a P/E ratio of 22.38 and a beta of 1.08. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.33 per share. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, March 6th. This represents a $1.32 annualized dividend and a dividend yield of 5.78%. Shutterstock’s dividend payout ratio (DPR) is 129.41%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Needham & Company LLC lowered their target price on Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Truist Financial lowered Shutterstock from a “buy” rating to a “hold” rating in a research note on Tuesday. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Finally, StockNews.com assumed coverage on shares of Shutterstock in a research note on Wednesday, February 19th. They set a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $50.33.

About Shutterstock

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.