Zacks: Analysts Anticipate Shutterstock Inc (SSTK) to Post $0.48 EPS

Equities research analysts expect Shutterstock Inc (NYSE:SSTK) to report $0.48 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Shutterstock’s earnings. The lowest EPS estimate is $0.40 and the highest is $0.65. Shutterstock posted earnings of $0.30 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 60%. The firm is scheduled to report its next earnings report on Thursday, February 28th.

On average, analysts expect that Shutterstock will report full-year earnings of $1.47 per share for the current financial year, with EPS estimates ranging from $1.38 to $1.64. For the next year, analysts expect that the business will report earnings of $1.69 per share, with EPS estimates ranging from $1.52 to $1.94. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Shutterstock.

Shutterstock (NYSE:SSTK) last released its earnings results on Tuesday, October 30th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01. The business had revenue of $151.60 million for the quarter, compared to analyst estimates of $157.88 million. Shutterstock had a return on equity of 8.76% and a net margin of 6.82%. Shutterstock’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 earnings per share.

A number of brokerages have weighed in on SSTK. ValuEngine raised Shutterstock from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Deutsche Bank boosted their price target on Shutterstock from $40.00 to $43.00 and gave the stock a “hold” rating in a research report on Wednesday, August 15th. Finally, SunTrust Banks reissued a “hold” rating and set a $48.00 price target on shares of Shutterstock in a research report on Monday, October 29th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Shutterstock has a consensus rating of “Hold” and a consensus price target of $42.33.

Shares of NYSE SSTK opened at $37.56 on Wednesday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 52.90, a price-to-earnings-growth ratio of 2.00 and a beta of 1.52. Shutterstock has a twelve month low of $36.20 and a twelve month high of $55.76.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cutler Group LP grew its position in shares of Shutterstock by 357.1% in the second quarter. Cutler Group LP now owns 2,571 shares of the business services provider’s stock valued at $122,000 after purchasing an additional 3,571 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Shutterstock by 21.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 14,773 shares of the business services provider’s stock worth $701,000 after purchasing an additional 2,570 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Shutterstock by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 299,970 shares of the business services provider’s stock worth $14,237,000 after purchasing an additional 8,722 shares during the period. Comerica Bank boosted its holdings in Shutterstock by 12.3% in the 2nd quarter. Comerica Bank now owns 24,271 shares of the business services provider’s stock worth $1,230,000 after acquiring an additional 2,663 shares during the period. Finally, Bernzott Capital Advisors boosted its holdings in Shutterstock by 8.4% in the 2nd quarter. Bernzott Capital Advisors now owns 725,455 shares of the business services provider’s stock worth $34,430,000 after acquiring an additional 56,350 shares during the period. 55.73% of the stock is currently owned by hedge funds and other institutional investors.

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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