Shutterstock Inc (NYSE:SSTK) Expected to Announce Earnings of $0.18 Per Share

Wall Street brokerages expect Shutterstock Inc (NYSE:SSTK) to announce earnings of $0.18 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Shutterstock’s earnings, with the lowest EPS estimate coming in at $0.10 and the highest estimate coming in at $0.25. Shutterstock reported earnings per share of $0.38 during the same quarter last year, which indicates a negative year over year growth rate of 52.6%. The company is expected to announce its next earnings results on Tuesday, October 29th.

According to Zacks, analysts expect that Shutterstock will report full year earnings of $1.24 per share for the current fiscal year, with EPS estimates ranging from $1.12 to $1.31. For the next year, analysts anticipate that the business will report earnings of $1.23 per share, with EPS estimates ranging from $0.99 to $1.36. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Shutterstock.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The company had revenue of $161.74 million during the quarter, compared to the consensus estimate of $171.93 million. Shutterstock had a return on equity of 13.64% and a net margin of 5.19%. Shutterstock’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 EPS.

SSTK has been the subject of a number of recent analyst reports. Zacks Investment Research raised Shutterstock from a “sell” rating to a “hold” rating in a report on Tuesday. SunTrust Banks reaffirmed a “hold” rating and set a $44.00 price target on shares of Shutterstock in a report on Monday, August 5th. Finally, ValuEngine raised Shutterstock from a “sell” rating to a “hold” rating in a report on Monday, August 12th.

NYSE SSTK traded up $0.86 during trading on Thursday, reaching $35.43. 262,419 shares of the company’s stock were exchanged, compared to its average volume of 206,310. The stock has a market cap of $1.23 billion, a P/E ratio of 33.74, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The company has a 50 day moving average price of $37.45 and a two-hundred day moving average price of $41.25. Shutterstock has a 1 year low of $31.77 and a 1 year high of $55.76.

In other news, Director Deirdre Mary Bigley sold 1,592 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $39.41, for a total value of $62,740.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 46.80% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. NumerixS Investment Technologies Inc lifted its holdings in shares of Shutterstock by 100.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 800 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 400 shares during the last quarter. Zions Bancorporation N.A. acquired a new position in Shutterstock in the 1st quarter valued at about $78,000. Aperio Group LLC acquired a new position in Shutterstock in the 2nd quarter valued at about $87,000. Quantamental Technologies LLC increased its position in Shutterstock by 2,525.0% in the 2nd quarter. Quantamental Technologies LLC now owns 2,625 shares of the business services provider’s stock valued at $103,000 after acquiring an additional 2,525 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new position in Shutterstock in the 4th quarter valued at about $193,000. 56.86% of the stock is owned by institutional investors and hedge funds.

Shutterstock Company Profile

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

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