Shutterstock (SSTK) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Shutterstock (NYSE:SSTK) released its quarterly earnings data on Tuesday. The business services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01, MarketWatch Earnings reports. Shutterstock had a net margin of 6.54% and a return on equity of 7.82%. The company had revenue of $151.60 million during the quarter, compared to analyst estimates of $157.88 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Shutterstock updated its FY 2018 guidance to EPS.

SSTK traded down $5.34 during trading hours on Tuesday, reaching $39.31. 355,920 shares of the stock traded hands, compared to its average volume of 246,074. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 55.37, a PEG ratio of 2.62 and a beta of 1.24. Shutterstock has a fifty-two week low of $33.33 and a fifty-two week high of $55.76.

SSTK has been the subject of several recent research reports. Jefferies Financial Group reissued a “sell” rating and issued a $44.00 price objective on shares of Shutterstock in a research report on Thursday, August 2nd. Deutsche Bank increased their price objective on shares of Shutterstock from $40.00 to $43.00 and gave the stock a “hold” rating in a research report on Wednesday, August 15th. ValuEngine lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Friday, October 19th. Finally, SunTrust Banks reissued a “hold” rating and issued a $48.00 price objective on shares of Shutterstock in a research report on Wednesday, August 1st. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Shutterstock has a consensus rating of “Hold” and a consensus target price of $43.40.

In related news, Director Thomas R. Evans sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $51.18, for a total transaction of $511,800.00. Following the completion of the sale, the director now directly owns 24,591 shares of the company’s stock, valued at approximately $1,258,567.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Martin Brodbeck sold 4,813 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $51.18, for a total transaction of $246,329.34. Following the sale, the insider now directly owns 55,101 shares of the company’s stock, valued at $2,820,069.18. The disclosure for this sale can be found here. 47.20% of the stock is currently owned by company insiders.

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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Earnings History for Shutterstock (NYSE:SSTK)

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