Shutterstock (NYSE:SSTK) Releases Earnings Results, Misses Expectations By $0.38 EPS

Shutterstock (NYSE:SSTK) posted its earnings results on Tuesday. The business services provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.38), FiscalAI reports. The business had revenue of $220.22 million for the quarter. Shutterstock had a return on equity of 16.16% and a net margin of 4.60%.The company’s revenue was down 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 earnings per share.

Shutterstock Stock Performance

SSTK stock traded up $0.42 during midday trading on Thursday, reaching $15.48. 378,904 shares of the company’s stock traded hands, compared to its average volume of 272,076. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market capitalization of $549.85 million, a PE ratio of 12.00 and a beta of 1.26. Shutterstock has a 52 week low of $14.35 and a 52 week high of $29.50. The company has a 50-day moving average price of $18.62 and a two-hundred day moving average price of $20.55.

Shutterstock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 5th will be issued a $0.36 dividend. This is an increase from Shutterstock’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $1.44 annualized dividend and a yield of 9.3%. Shutterstock’s payout ratio is 78.57%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SSTK. Zacks Research upgraded Shutterstock from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Wall Street Zen lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shutterstock in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SSTK. WealthCollab LLC lifted its holdings in Shutterstock by 106.3% in the 2nd quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock worth $28,000 after buying an additional 748 shares during the period. Osaic Holdings Inc. increased its position in shares of Shutterstock by 150.6% during the second quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 1,065 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Shutterstock by 72.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,297 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 1,388 shares in the last quarter. Quadrant Capital Group LLC bought a new position in Shutterstock during the 3rd quarter valued at about $111,000. Finally, BNP Paribas Financial Markets grew its position in Shutterstock by 59.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,879 shares of the business services provider’s stock worth $143,000 after purchasing an additional 2,576 shares during the period. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Shutterstock Company Profile

Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.