Wall Street brokerages predict that Shutterstock Inc (NYSE:SSTK) will announce $157.94 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Shutterstock’s earnings, with the lowest sales estimate coming in at $157.28 million and the highest estimate coming in at $158.79 million. Shutterstock posted sales of $141.06 million during the same quarter last year, which suggests a positive year over year growth rate of 12%. The business is expected to announce its next earnings results on Tuesday, October 30th.

According to Zacks, analysts expect that Shutterstock will report full-year sales of $633.71 million for the current fiscal year, with estimates ranging from $633.51 million to $634.12 million. For the next fiscal year, analysts anticipate that the business will report sales of $705.64 million per share, with estimates ranging from $693.80 million to $712.60 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Shutterstock.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Wednesday, August 1st. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.11. Shutterstock had a return on equity of 7.82% and a net margin of 6.54%. The firm had revenue of $156.60 million during the quarter, compared to the consensus estimate of $156.40 million. During the same quarter in the previous year, the company posted $0.24 EPS. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year.

Several equities analysts have issued reports on SSTK shares. SunTrust Banks reiterated a “hold” rating and issued a $48.00 price objective on shares of Shutterstock in a research report on Wednesday, August 1st. Jefferies Financial Group reiterated a “sell” rating and issued a $44.00 price objective on shares of Shutterstock in a research report on Thursday, August 2nd. ValuEngine upgraded Shutterstock from a “sell” rating to a “hold” rating in a research report on Monday, June 11th. Finally, Deutsche Bank lifted their price objective on Shutterstock from $40.00 to $43.00 and gave the company a “hold” rating in a research report on Wednesday, August 15th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $43.40.

Shares of SSTK opened at $54.09 on Monday. Shutterstock has a 52-week low of $32.50 and a 52-week high of $55.76. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 76.18, a price-to-earnings-growth ratio of 3.22 and a beta of 1.43.

The firm also recently disclosed a dividend, which was paid on Wednesday, August 29th. Shareholders of record on Wednesday, August 15th were given a $3.00 dividend. The ex-dividend date was Tuesday, August 14th.

In other news, Director Thomas R. Evans sold 10,000 shares of Shutterstock stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $51.18, for a total value of $511,800.00. Following the completion of the sale, the director now directly owns 24,591 shares of the company’s stock, valued at approximately $1,258,567.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Martin Brodbeck sold 4,813 shares of Shutterstock stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $51.18, for a total value of $246,329.34. Following the completion of the sale, the insider now directly owns 55,101 shares of the company’s stock, valued at $2,820,069.18. The disclosure for this sale can be found here. 47.20% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC acquired a new stake in shares of Shutterstock in the 2nd quarter valued at $1,548,000. Cutler Group LP increased its stake in shares of Shutterstock by 357.1% in the 2nd quarter. Cutler Group LP now owns 2,571 shares of the business services provider’s stock valued at $122,000 after buying an additional 3,571 shares during the period. Bernzott Capital Advisors increased its stake in shares of Shutterstock by 8.4% in the 2nd quarter. Bernzott Capital Advisors now owns 725,455 shares of the business services provider’s stock valued at $34,430,000 after buying an additional 56,350 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Shutterstock by 21.1% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 14,773 shares of the business services provider’s stock valued at $701,000 after buying an additional 2,570 shares during the period. Finally, Koch Industries Inc. acquired a new stake in shares of Shutterstock in the 1st quarter valued at $437,000. 63.83% of the stock is owned by institutional investors.

About Shutterstock

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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