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

Shutterstock (NYSE:SSTK - Get Free Report) announced its 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. 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 revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS.

Shutterstock Stock Performance

NYSE:SSTK traded down $0.50 on Friday, reaching $21.47. 938,422 shares of the company's stock were exchanged, compared to its average volume of 756,875. 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 firm has a market cap of $748.47 million, a price-to-earnings ratio of 21.05 and a beta of 1.08. Shutterstock has a 52 week low of $21.37 and a 52 week high of $54.40. The stock has a fifty day simple moving average of $29.34 and a 200-day simple moving average of $31.61.

Shutterstock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date is Thursday, March 6th. This is a positive change from Shutterstock's previous quarterly dividend of $0.30. Shutterstock's dividend payout ratio (DPR) is currently 130.69%.

Wall Street Analysts Forecast Growth

SSTK has been the subject of a number of research analyst reports. Needham & Company LLC decreased their price objective on shares of Shutterstock from $55.00 to $45.00 and set a "buy" rating for the company in a report on Monday, January 13th. StockNews.com initiated coverage on shares of Shutterstock in a report on Thursday. They set a "hold" rating for the company. Truist Financial downgraded shares of Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday. Finally, JMP Securities restated a "market perform" rating on shares of Shutterstock in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Shutterstock has a consensus rating of "Hold" and a consensus price target 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.