Shutterstock Inc (NYSE:SSTK) Expected to Announce Earnings of $0.40 Per Share

Brokerages expect Shutterstock Inc (NYSE:SSTK) to announce earnings of $0.40 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Shutterstock’s earnings. Shutterstock reported earnings per share of $0.59 in the same quarter last year, which would suggest a negative year over year growth rate of 32.2%. The company is scheduled to issue its next quarterly earnings results before the market opens on Thursday, February 13th.

According to Zacks, analysts expect that Shutterstock will report full year earnings of $1.38 per share for the current fiscal year, with EPS estimates ranging from $1.37 to $1.38. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.31 per share, with EPS estimates ranging from $1.26 to $1.35. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Shutterstock.

Shutterstock (NYSE:SSTK) last posted its earnings results on Tuesday, November 5th. The business services provider reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.27. The firm had revenue of $159.08 million for the quarter, compared to the consensus estimate of $161.77 million. Shutterstock had a return on equity of 12.20% and a net margin of 4.75%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 EPS.

SSTK has been the subject of several recent research reports. ValuEngine raised Shutterstock from a “sell” rating to a “hold” rating in a research report on Friday, December 27th. SunTrust Banks boosted their price target on Shutterstock from $36.00 to $38.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, Zacks Investment Research upgraded Shutterstock from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th.

SSTK stock traded up $0.31 during midday trading on Tuesday, hitting $44.29. The stock had a trading volume of 140,700 shares, compared to its average volume of 125,478. The business has a 50-day moving average of $43.37 and a two-hundred day moving average of $39.22. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 51.50, a price-to-earnings-growth ratio of 2.46 and a beta of 1.21. Shutterstock has a 52-week low of $33.26 and a 52-week high of $50.09.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSTK. NumerixS Investment Technologies Inc increased its holdings in shares of Shutterstock by 100.0% during the second quarter. NumerixS Investment Technologies Inc now owns 800 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 400 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Shutterstock in the 3rd quarter worth about $122,000. Everence Capital Management Inc. bought a new position in Shutterstock in the 4th quarter worth about $212,000. Mason Street Advisors LLC grew its position in Shutterstock by 3.9% during the 3rd quarter. Mason Street Advisors LLC now owns 6,472 shares of the business services provider’s stock valued at $234,000 after purchasing an additional 242 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Shutterstock during the 2nd quarter valued at about $260,000. 58.83% of the stock is currently owned by hedge funds and other institutional investors.

About Shutterstock

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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