Shutterstock (SSTK) Set to Announce Quarterly Earnings on Tuesday

Shutterstock (NYSE:SSTK) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $1.06 per share for the quarter. Shutterstock has set its FY24 guidance at $4.18 to $4.32 EPS and its FY 2024 guidance at 4.180-4.320 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Shutterstock (NYSE:SSTK) last issued its earnings results on Tuesday, August 6th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.01). The business had revenue of $220.05 million for the quarter, compared to analysts’ expectations of $213.44 million. Shutterstock had a return on equity of 20.45% and a net margin of 5.33%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business earned $0.76 EPS. On average, analysts expect Shutterstock to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Shutterstock Price Performance

NYSE:SSTK opened at $29.28 on Monday. The company has a 50 day moving average price of $33.27 and a 200-day moving average price of $37.38. Shutterstock has a 1-year low of $28.95 and a 1-year high of $54.40. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 11.35 and a beta of 1.09.

Shutterstock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.30 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a yield of 4.10%. Shutterstock’s payout ratio is 46.51%.

Analyst Ratings Changes

A number of equities analysts have weighed in on SSTK shares. Needham & Company LLC restated a “buy” rating and set a $65.00 price objective on shares of Shutterstock in a research report on Tuesday, August 6th. StockNews.com upgraded Shutterstock from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Finally, Morgan Stanley lowered their price target on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 21st.

About Shutterstock

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.