Shutterstock (NYSE:SSTK) Releases Earnings Results, Misses Estimates By $0.23 EPS

Shutterstock (NYSE:SSTK - Get Free Report) released its earnings results on Friday. The business services provider reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.26 by ($0.23), Briefing.com reports. The business had revenue of $242.62 million for the quarter, compared to the consensus estimate of $249.44 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company's revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.13 earnings per share.

Shutterstock Price Performance

Shutterstock stock traded up $0.07 during mid-day trading on Tuesday, hitting $17.59. The stock had a trading volume of 269,103 shares, compared to its average volume of 535,889. 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 has a one year low of $14.35 and a one year high of $46.10. The firm's 50 day moving average is $17.74 and its 200 day moving average is $26.00. The firm has a market capitalization of $620.12 million, a P/E ratio of 17.25 and a beta of 1.10.

Shutterstock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 7.50%. The ex-dividend date of this dividend is Thursday, June 5th. Shutterstock's dividend payout ratio is presently 121.10%.

Analyst Upgrades and Downgrades

SSTK has been the subject of a number of recent analyst reports. Needham & Company LLC reduced their target price on Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a report on Friday, March 7th. StockNews.com upgraded shares of Shutterstock from a "hold" rating to a "buy" rating in a research note on Monday. Truist Financial cut shares of Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, JMP Securities restated a "market perform" rating on shares of Shutterstock in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $45.33.

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.