Shutterstock (SSTK) to Release Earnings on Tuesday

Shutterstock (NYSE:SSTKGet Rating) will post its quarterly earnings results before the market opens on Tuesday, April 26th. Analysts expect Shutterstock to post earnings of $0.59 per share for the quarter. Shutterstock has set its FY 2022 guidance at $3.650-$3.800 EPS and its FY22 guidance at $3.65-3.80 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Shutterstock (NYSE:SSTKGet Rating) last announced its quarterly earnings results on Thursday, February 10th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.29. The business had revenue of $205.78 million for the quarter, compared to analyst estimates of $201.92 million. Shutterstock had a net margin of 11.88% and a return on equity of 22.08%. The company’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. On average, analysts expect Shutterstock to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Shares of Shutterstock stock opened at $80.73 on Tuesday. The firm has a market cap of $2.95 billion, a PE ratio of 32.82, a price-to-earnings-growth ratio of 9.27 and a beta of 1.18. Shutterstock has a 12-month low of $77.38 and a 12-month high of $128.36. The company’s fifty day simple moving average is $89.70 and its two-hundred day simple moving average is $102.91.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 17th. Shareholders of record on Thursday, March 3rd were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Wednesday, March 2nd. This is a positive change from Shutterstock’s previous quarterly dividend of $0.21. Shutterstock’s dividend payout ratio (DPR) is 39.02%.

A number of equities research analysts have issued reports on SSTK shares. StockNews.com started coverage on shares of Shutterstock in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Zacks Investment Research lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a research note on Thursday, February 17th. Finally, Needham & Company LLC cut their target price on shares of Shutterstock from $145.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, February 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Shutterstock has an average rating of “Buy” and an average target price of $122.50.

In other Shutterstock news, Chairman Jonathan Oringer sold 30,873 shares of Shutterstock stock in a transaction dated Wednesday, February 9th. The shares were sold at an average price of $93.72, for a total value of $2,893,417.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Steven Ciardiello sold 1,557 shares of the business’s stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $88.78, for a total transaction of $138,230.46. The disclosure for this sale can be found here. Insiders have sold 208,229 shares of company stock worth $18,885,608 in the last three months. 37.40% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Shutterstock by 6.8% during the fourth quarter. BlackRock Inc. now owns 3,858,568 shares of the business services provider’s stock valued at $427,838,000 after buying an additional 246,016 shares during the period. Millennium Management LLC grew its position in Shutterstock by 154.8% during the fourth quarter. Millennium Management LLC now owns 191,906 shares of the business services provider’s stock valued at $21,279,000 after buying an additional 116,584 shares during the period. Morgan Stanley boosted its position in shares of Shutterstock by 7.1% in the second quarter. Morgan Stanley now owns 172,565 shares of the business services provider’s stock worth $16,941,000 after purchasing an additional 11,471 shares during the period. Legal & General Group Plc boosted its position in shares of Shutterstock by 3.0% in the fourth quarter. Legal & General Group Plc now owns 67,843 shares of the business services provider’s stock worth $7,522,000 after purchasing an additional 1,982 shares during the period. Finally, Comerica Bank boosted its position in shares of Shutterstock by 50.0% in the fourth quarter. Comerica Bank now owns 67,531 shares of the business services provider’s stock worth $6,328,000 after purchasing an additional 22,519 shares during the period. Institutional investors own 65.41% of the company’s stock.

Shutterstock Company Profile (Get Rating)

Shutterstock, Inc, a technology company, provides quality content, and creative workflow solutions in North America, Europe, and internationally. It 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, and 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.

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Earnings History for Shutterstock (NYSE:SSTK)

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