Shutterfly, Inc. (SFLY) Updates FY17 Earnings Guidance
Shutterfly, Inc. (NASDAQ:SFLY) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.45-0.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.66. The company issued revenue guidance of $1.135-1.165 billion, compared to the consensus revenue estimate of $1.16 billion.
Several research firms have commented on SFLY. BidaskClub upgraded shares of Shutterfly from a strong sell rating to a sell rating in a research note on Tuesday. Zacks Investment Research lowered shares of Shutterfly from a strong-buy rating to a hold rating in a research note on Tuesday, July 11th. Aegis restated a buy rating and set a $57.00 price target on shares of Shutterfly in a research note on Wednesday, April 26th. TheStreet lowered shares of Shutterfly from a b- rating to a c+ rating in a research note on Tuesday, June 13th. Finally, Cantor Fitzgerald raised their price target on shares of Shutterfly from $50.00 to $57.00 and gave the stock an overweight rating in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Shutterfly has an average rating of Hold and a consensus price target of $53.10.
Shares of Shutterfly, Inc. (NASDAQ SFLY) traded up 2.75% during midday trading on Tuesday, hitting $48.12. 1,511,481 shares of the stock traded hands. The company’s 50-day moving average is $47.87 and its 200 day moving average is $48.71. Shutterfly, Inc. has a 52 week low of $41.91 and a 52 week high of $54.60. The firm has a market capitalization of $1.62 billion, a PE ratio of 137.88 and a beta of 0.85.
Shutterfly (NASDAQ:SFLY) last announced its quarterly earnings results on Tuesday, July 25th. The technology company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.55) by $0.13. The firm had revenue of $209.03 million for the quarter, compared to analyst estimates of $209.46 million. Shutterfly had a net margin of 1.06% and a return on equity of 3.29%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.48) EPS. Analysts anticipate that Shutterfly, Inc. will post $0.56 earnings per share for the current year.
Shutterfly declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 18th that permits the company to buyback $140.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 8.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, Director William J. Lansing purchased 20,000 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were purchased at an average price of $52.02 per share, with a total value of $1,040,400.00. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $1,040,400. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Betsy Rafael sold 1,060 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $47.76, for a total transaction of $50,625.60. Following the transaction, the director now directly owns 5,046 shares in the company, valued at approximately $240,996.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,290 shares of company stock worth $2,958,580. Corporate insiders own 5.70% of the company’s stock.
Shutterfly Company Profile
Shutterfly, Inc is an online manufacturer and retailer of personalized products and services. The Company focuses on helping consumers manage their memories through the medium of photography. The Company’s segments are Consumer and Shutterfly Business Solutions (SBS). The Consumer segment offers photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and statement gifts.
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