Shutterstock (NYSE:SSTK) Announces Quarterly Earnings Results

Shutterstock (NYSE:SSTK - Get Free Report) released its quarterly earnings data on Friday, May 2nd. The business services provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.23), Briefing.com reports. The business had revenue of $242.62 million for the quarter, compared to analyst estimates of $249.44 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company's revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 earnings per share.

Shutterstock Stock Performance

Shares of SSTK stock traded down $0.07 during trading hours on Friday, reaching $18.69. 147,301 shares of the company's stock were exchanged, compared to its average volume of 533,964. 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 has a 1 year low of $14.35 and a 1 year high of $46.10. The company has a market cap of $658.90 million, a P/E ratio of 18.32 and a beta of 1.10. The company's 50 day moving average is $17.62 and its two-hundred day moving average is $25.87.

Shutterstock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date of this dividend is Thursday, June 5th. Shutterstock's dividend payout ratio is presently 121.10%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SSTK shares. JMP Securities restated a "market perform" rating on shares of Shutterstock in a research note on Monday. Needham & Company LLC dropped their price target on Shutterstock from $45.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. Truist Financial cut shares of Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, StockNews.com raised shares of Shutterstock from a "hold" rating to a "buy" rating in a report on Monday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently 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.