Shutterstock Inc (SSTK) Expected to Post Earnings of $0.43 Per Share

Wall Street analysts expect Shutterstock Inc (NYSE:SSTK) to report earnings per share (EPS) of $0.43 for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Shutterstock’s earnings, with estimates ranging from $0.28 to $0.59. Shutterstock posted earnings per share of $0.30 in the same quarter last year, which indicates a positive year-over-year growth rate of 43.3%. The company is expected to issue its next earnings report before the market opens on Thursday, April 25th.

On average, analysts expect that Shutterstock will report full year earnings of $1.64 per share for the current financial year, with EPS estimates ranging from $1.43 to $1.87. For the next fiscal year, analysts anticipate that the business will report earnings of $1.91 per share, with EPS estimates ranging from $1.66 to $2.12. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Shutterstock.

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

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

Shares of NYSE SSTK traded up $0.03 during mid-day trading on Friday, hitting $46.63. The company had a trading volume of 158,575 shares, compared to its average volume of 255,247. Shutterstock has a 12 month low of $31.77 and a 12 month high of $55.76. The stock has a market cap of $1.63 billion, a PE ratio of 44.41, a PEG ratio of 1.75 and a beta of 1.30.

In related news, insider Martin Brodbeck sold 5,677 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $46.48, for a total value of $263,866.96. Following the completion of the sale, the insider now owns 41,619 shares in the company, valued at $1,934,451.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 47.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSTK. Bronfman E.L. Rothschild L.P. lifted its stake in Shutterstock by 56.6% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 855 shares of the business services provider’s stock worth $31,000 after purchasing an additional 309 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Shutterstock by 56.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,324 shares of the business services provider’s stock worth $48,000 after purchasing an additional 476 shares during the period. NumerixS Investment Technologies Inc bought a new position in Shutterstock during the fourth quarter worth about $82,000. Point72 Hong Kong Ltd bought a new position in Shutterstock during the third quarter worth about $170,000. Finally, Quantamental Technologies LLC bought a new position in Shutterstock during the fourth quarter worth about $173,000. Institutional investors and hedge funds own 56.55% of the company’s stock.

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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