Brokerages Expect Shutterstock Inc (SSTK) Will Announce Quarterly Sales of $166.33 Million

Analysts predict that Shutterstock Inc (NYSE:SSTK) will report $166.33 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Shutterstock’s earnings, with the highest sales estimate coming in at $168.81 million and the lowest estimate coming in at $164.85 million. Shutterstock posted sales of $153.02 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8.7%. The company is scheduled to issue its next earnings results before the market opens on Thursday, April 25th.

According to Zacks, analysts expect that Shutterstock will report full-year sales of $687.20 million for the current fiscal year, with estimates ranging from $683.40 million to $690.75 million. For the next financial year, analysts expect that the company will post sales of $753.01 million, with estimates ranging from $745.63 million to $760.46 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Shutterstock.

Shutterstock (NYSE:SSTK) last posted its earnings results on Tuesday, February 26th. The business services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.11. Shutterstock had a return on equity of 11.55% and a net margin of 8.77%. The firm had revenue of $162.10 million during the quarter, compared to the consensus estimate of $165.46 million. During the same period in the prior year, the company earned $0.30 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year.

Separately, Zacks Investment Research raised Shutterstock from a “sell” rating to a “hold” rating in a research note on Saturday, March 9th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $42.33.

SSTK traded down $0.16 on Monday, hitting $47.30. The company had a trading volume of 89,300 shares, compared to its average volume of 217,149. The firm has a market cap of $1.66 billion, a P/E ratio of 45.05, a P/E/G ratio of 1.84 and a beta of 1.30. Shutterstock has a 12-month low of $31.77 and a 12-month high of $55.76.

In other news, insider Martin Brodbeck sold 5,677 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $46.48, for a total transaction of $263,866.96. Following the transaction, the insider now owns 41,619 shares in the company, valued at $1,934,451.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 47.20% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans raised its position in shares of Shutterstock by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 13,224 shares of the business services provider’s stock worth $476,000 after acquiring an additional 290 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in Shutterstock by 56.6% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 855 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 309 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Shutterstock by 56.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,324 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 476 shares during the last quarter. Texas Permanent School Fund raised its holdings in Shutterstock by 4.2% in the fourth quarter. Texas Permanent School Fund now owns 12,152 shares of the business services provider’s stock worth $438,000 after purchasing an additional 492 shares in the last quarter. Finally, We Are One Seven LLC raised its holdings in Shutterstock by 14.0% in the fourth quarter. We Are One Seven LLC now owns 7,277 shares of the business services provider’s stock worth $262,000 after purchasing an additional 896 shares in the last quarter. 56.55% of the stock is owned by institutional investors.

About Shutterstock

Shutterstock, Inc provides content products and services in North America, Europe, and internationally. It offers digital imagery services, which include licensed photographs, vectors, illustrations, and video clips that customers use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and commercial music services comprising music tracks and sound effects that are used to complement digital imagery.

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