Shutterstock (NYSE:SSTK) Releases Quarterly Earnings Results

Key Points

• Shutterstock reported earnings of $1.19 EPS, missing analysts' estimates by $0.46, while revenue for the quarter was $266.99 million, exceeding expectations.
• The company announced a quarterly dividend of $0.33, with a dividend yield of 6.71%, but its dividend payout ratio stands at an unsustainable 121.10%.
• Shutterstock's stock decreased by $0.66 during midday trading, reaching $19.68, amidst analyst ratings that include one buy and several hold assessments.

Shutterstock (NYSE:SSTK - Get Free Report) announced its quarterly earnings results on Tuesday. The business services provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.46), Briefing.com reports. The company had revenue of $266.99 million during the quarter, compared to analyst estimates of $248.27 million. Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. Shutterstock's quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 EPS.

Shutterstock Trading Down 2.5%

SSTK stock traded down $0.47 during midday trading on Friday, reaching $18.69. The stock had a trading volume of 279,029 shares, compared to its average volume of 268,593. The business has a fifty day simple moving average of $18.90 and a two-hundred day simple moving average of $20.56. The firm has a market cap of $662.93 million, a price-to-earnings ratio of 10.33 and a beta of 0.99. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.20. Shutterstock has a twelve month low of $14.35 and a twelve month high of $40.49.

Shutterstock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Thursday, September 4th. Shutterstock's dividend payout ratio (DPR) is presently 72.93%.

Institutional Investors Weigh In On Shutterstock

An institutional investor recently raised its position in Shutterstock stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 12.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,901 shares of the business services provider's stock after purchasing an additional 3,263 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.08% of Shutterstock worth $557,000 as of its most recent SEC filing. 82.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on SSTK shares. Wall Street Zen raised Shutterstock from a "hold" rating to a "buy" rating in a research note on Saturday. JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Finally, Needham & Company LLC decreased their price target on Shutterstock from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, June 2nd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $43.67.

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.