Shutterstock Inc (NYSE:SSTK) Expected to Announce Earnings of $0.02 Per Share

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Equities analysts forecast that Shutterstock Inc (NYSE:SSTK) will announce $0.02 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Shutterstock’s earnings, with estimates ranging from ($0.04) to $0.09. Shutterstock posted earnings of $0.25 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 92%. The business is scheduled to announce its next earnings results on Tuesday, October 29th.

On average, analysts expect that Shutterstock will report full year earnings of $0.62 per share for the current year, with EPS estimates ranging from $0.53 to $0.70. For the next fiscal year, analysts anticipate that the company will report earnings of $0.67 per share, with EPS estimates ranging from $0.49 to $0.80. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Shutterstock.

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

SSTK has been the topic of a number of research analyst reports. ValuEngine upgraded Shutterstock from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. SunTrust Banks restated a “hold” rating and set a $44.00 price target on shares of Shutterstock in a research note on Monday, August 5th. Finally, Zacks Investment Research lowered Shutterstock from a “hold” rating to a “sell” rating in a research note on Friday.

Several hedge funds have recently modified their holdings of SSTK. Dimensional Fund Advisors LP grew its stake in shares of Shutterstock by 31.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 719,341 shares of the business services provider’s stock worth $25,903,000 after acquiring an additional 172,859 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Shutterstock by 876.2% during the first quarter. BNP Paribas Arbitrage SA now owns 4,354 shares of the business services provider’s stock worth $203,000 after acquiring an additional 3,908 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Shutterstock by 3,836.0% during the first quarter. Bank of Montreal Can now owns 36,526 shares of the business services provider’s stock worth $1,703,000 after acquiring an additional 35,598 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Shutterstock by 9.3% during the first quarter. Rhumbline Advisers now owns 58,486 shares of the business services provider’s stock worth $2,727,000 after acquiring an additional 4,964 shares during the last quarter. Finally, Texas Permanent School Fund grew its stake in shares of Shutterstock by 3.9% during the first quarter. Texas Permanent School Fund now owns 12,624 shares of the business services provider’s stock worth $589,000 after acquiring an additional 472 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

SSTK traded up $0.38 on Friday, hitting $37.68. The company had a trading volume of 140,774 shares, compared to its average volume of 202,981. The stock has a fifty day moving average price of $35.95 and a 200-day moving average price of $40.60. Shutterstock has a 12-month low of $31.77 and a 12-month high of $55.76. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 35.89, a P/E/G ratio of 2.44 and a beta of 1.19.

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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