Zacks: Analysts Anticipate Shutterstock (SSTK) Will Announce Quarterly Sales of $150.17 Million

Brokerages expect Shutterstock (NYSE:SSTK) to post sales of $150.17 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Shutterstock’s earnings. The lowest sales estimate is $146.18 million and the highest is $152.60 million. Shutterstock posted sales of $130.22 million in the same quarter last year, which suggests a positive year over year growth rate of 15.3%. The firm is expected to issue its next quarterly earnings results before the market opens on Thursday, April 26th.

On average, analysts expect that Shutterstock will report full year sales of $631.61 million for the current fiscal year, with estimates ranging from $629.01 million to $634.39 million. For the next year, analysts anticipate that the company will report sales of $700.16 million per share, with estimates ranging from $691.25 million to $706.86 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Shutterstock.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). Shutterstock had a net margin of 3.00% and a return on equity of 8.43%. The company had revenue of $151.80 million for the quarter, compared to analysts’ expectations of $143.66 million. During the same quarter in the prior year, the firm earned $0.42 EPS. Shutterstock’s quarterly revenue was up 16.6% compared to the same quarter last year.

Several equities analysts recently issued reports on the stock. Deutsche Bank boosted their price target on shares of Shutterstock from $36.00 to $43.00 and gave the company a “hold” rating in a research report on Friday, February 23rd. SunTrust Banks boosted their price target on shares of Shutterstock to $47.00 and gave the company a “hold” rating in a research report on Friday, February 23rd. Zacks Investment Research upgraded shares of Shutterstock from a “sell” rating to a “hold” rating in a research report on Saturday, March 24th. Finally, ValuEngine cut shares of Shutterstock from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Shutterstock presently has a consensus rating of “Hold” and an average price target of $42.67.

Shares of NYSE SSTK traded down $0.62 during midday trading on Friday, hitting $51.23. 119,409 shares of the company traded hands, compared to its average volume of 212,588. Shutterstock has a 12-month low of $29.85 and a 12-month high of $52.78. The stock has a market capitalization of $1,801.57, a P/E ratio of 72.15 and a beta of 1.16.

A number of institutional investors and hedge funds have recently made changes to their positions in SSTK. JPMorgan Chase & Co. grew its holdings in Shutterstock by 6,841.3% in the third quarter. JPMorgan Chase & Co. now owns 21,518 shares of the business services provider’s stock worth $719,000 after purchasing an additional 21,208 shares during the period. Wells Fargo & Company MN grew its holdings in Shutterstock by 41.3% in the third quarter. Wells Fargo & Company MN now owns 22,575 shares of the business services provider’s stock worth $751,000 after purchasing an additional 6,602 shares during the period. Dimensional Fund Advisors LP grew its holdings in Shutterstock by 7.0% in the third quarter. Dimensional Fund Advisors LP now owns 382,635 shares of the business services provider’s stock worth $12,738,000 after purchasing an additional 25,002 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Shutterstock in the third quarter worth about $133,000. Finally, Public Employees Retirement System of Ohio grew its holdings in Shutterstock by 20.1% in the third quarter. Public Employees Retirement System of Ohio now owns 22,654 shares of the business services provider’s stock worth $754,000 after purchasing an additional 3,786 shares during the period. Institutional investors and hedge funds own 58.91% of the company’s stock.

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Shutterstock Company Profile

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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