Shutterstock (SSTK) Set to Announce Earnings on Tuesday

Shutterstock (NYSE:SSTK) is scheduled to post its quarterly earnings results before the market opens on Tuesday, August 6th. Analysts expect Shutterstock to post earnings of $1.01 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Thursday, May 2nd. The business services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.16. The business had revenue of $214.32 million for the quarter, compared to analysts’ expectations of $211.03 million. Shutterstock had a net margin of 10.71% and a return on equity of 21.14%. On average, analysts expect Shutterstock to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Shutterstock Stock Performance

Shares of SSTK opened at $39.49 on Monday. Shutterstock has a 52 week low of $33.80 and a 52 week high of $54.40. The stock has a 50 day moving average price of $39.29 and a two-hundred day moving average price of $42.95. The firm has a market capitalization of $1.42 billion, a P/E ratio of 15.31 and a beta of 1.12.

Shutterstock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, August 29th. This represents a $1.20 annualized dividend and a yield of 3.04%. Shutterstock’s dividend payout ratio (DPR) is currently 46.51%.

Analysts Set New Price Targets

SSTK has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price target on shares of Shutterstock in a research report on Tuesday, May 14th. Morgan Stanley increased their price target on Shutterstock from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Truist Financial lowered their price target on Shutterstock from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.25.

Insider Activity

In other news, CFO Jarrod Yahes acquired 5,350 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of $37.35 per share, with a total value of $199,822.50. Following the acquisition, the chief financial officer now owns 43,904 shares in the company, valued at approximately $1,639,814.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Paul J. Hennessy purchased 12,500 shares of Shutterstock stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average cost of $38.38 per share, for a total transaction of $479,750.00. Following the transaction, the chief executive officer now directly owns 87,803 shares of the company’s stock, valued at $3,369,879.14. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jarrod Yahes acquired 5,350 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average price of $37.35 per share, for a total transaction of $199,822.50. Following the transaction, the chief financial officer now directly owns 43,904 shares of the company’s stock, valued at approximately $1,639,814.40. The disclosure for this purchase can be found here. Insiders own 32.00% of the company’s stock.

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.