Shutterstock (NYSE:SSTK) Issues Earnings Results

Shutterstock (NYSE:SSTK - Get Free Report) 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. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company had revenue of $250.30 million for the quarter, compared to analyst estimates of $254.16 million. During the same period in the previous year, the business posted $0.72 earnings per share. The firm's revenue was up 15.2% compared to the same quarter last year.

Shutterstock Trading Down 2.3 %

Shares of NYSE:SSTK traded down $0.50 during midday trading on Friday, reaching $21.47. The company had a trading volume of 938,422 shares, compared to its average volume of 756,875. The company has a fifty day simple moving average of $29.34 and a two-hundred day simple moving average of $31.61. The firm has a market cap of $748.47 million, a price-to-earnings ratio of 21.05 and a beta of 1.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. Shutterstock has a 1-year low of $21.37 and a 1-year high of $54.40.

Shutterstock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a $0.33 dividend. This is an increase from Shutterstock's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date of this dividend is Thursday, March 6th. Shutterstock's payout ratio is presently 130.69%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com initiated coverage on shares of Shutterstock in a research report on Thursday. They issued a "hold" rating on the stock. Needham & Company LLC dropped their price target 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 downgraded shares of Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, JMP Securities reiterated 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, Shutterstock presently has an average rating of "Hold" and a consensus 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.