Brokerages expect Shutterstock Inc (NYSE:SSTK) to post sales of $143.76 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Shutterstock’s earnings. The highest sales estimate is $148.20 million and the lowest is $139.49 million. Shutterstock posted sales of $130.17 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.4%. The business is scheduled to issue its next quarterly earnings report on Monday, February 26th.
According to Zacks, analysts expect that Shutterstock will report full-year sales of $143.76 million for the current financial year, with estimates ranging from $544.77 million to $553.50 million. For the next financial year, analysts expect that the company will report sales of $609.29 million per share, with estimates ranging from $595.78 million to $624.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Shutterstock.
Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Shutterstock had a net margin of 4.58% and a return on equity of 9.71%. The company had revenue of $141.10 million during the quarter, compared to analyst estimates of $133.24 million. During the same quarter last year, the business posted $0.40 EPS. Shutterstock’s quarterly revenue was up 14.6% compared to the same quarter last year.
In other Shutterstock news, insider Jeffrey Kane Weiser sold 4,449 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $38.00, for a total value of $169,062.00. Following the completion of the transaction, the insider now directly owns 30,500 shares of the company’s stock, valued at approximately $1,159,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 47.30% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in SSTK. Vanguard Group Inc. lifted its holdings in shares of Shutterstock by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,674,695 shares of the business services provider’s stock worth $73,821,000 after acquiring an additional 5,258 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Shutterstock by 66.8% during the 3rd quarter. Prudential Financial Inc. now owns 74,829 shares of the business services provider’s stock worth $2,491,000 after acquiring an additional 29,957 shares during the last quarter. State Street Corp lifted its holdings in shares of Shutterstock by 4.5% during the 2nd quarter. State Street Corp now owns 452,917 shares of the business services provider’s stock worth $19,963,000 after acquiring an additional 19,410 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Shutterstock by 16.7% during the 2nd quarter. Nordea Investment Management AB now owns 41,280 shares of the business services provider’s stock worth $1,820,000 after acquiring an additional 5,901 shares during the last quarter. Finally, AHL Partners LLP lifted its holdings in shares of Shutterstock by 22.3% during the 2nd quarter. AHL Partners LLP now owns 118,119 shares of the business services provider’s stock worth $5,207,000 after acquiring an additional 21,549 shares during the last quarter. 59.80% of the stock is owned by hedge funds and other institutional investors.
Shares of Shutterstock (NYSE SSTK) opened at $44.85 on Friday. Shutterstock has a one year low of $29.85 and a one year high of $55.07. The stock has a market cap of $1,534.37, a P/E ratio of 65.00 and a beta of 1.50.
TRADEMARK VIOLATION NOTICE: “Brokerages Expect Shutterstock Inc (SSTK) Will Post Quarterly Sales of $143.76 Million” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another site, it was illegally stolen and reposted in violation of international copyright and trademark law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/19/brokerages-expect-shutterstock-inc-sstk-will-post-quarterly-sales-of-143-76-million.html.
Shutterstock Company Profile
Shutterstock, Inc (Shutterstock) is a global technology company that operates a two-sided marketplace for professionals to license content. The Company’s library of content includes digital imagery, which consists of 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, which consists of music tracks and sound effects and which is often used to complement digital imagery.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Shutterstock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shutterstock and related companies with MarketBeat.com's FREE daily email newsletter.