Brokerages forecast that Shutterfly, Inc. (NASDAQ:SFLY) will post sales of $556.99 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Shutterfly’s earnings, with the lowest sales estimate coming in at $549.60 million and the highest estimate coming in at $568.88 million. Shutterfly reported sales of $561.23 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.8%. The business is expected to announce its next quarterly earnings report on Wednesday, February 7th.
According to Zacks, analysts expect that Shutterfly will report full year sales of $556.99 million for the current financial year, with estimates ranging from $1.15 billion to $1.17 billion. For the next financial year, analysts anticipate that the business will post sales of $1.21 billion per share, with estimates ranging from $1.19 billion to $1.23 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Shutterfly.
Shutterfly (NASDAQ:SFLY) last released its quarterly earnings results on Tuesday, October 24th. The technology company reported ($0.78) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.01. Shutterfly had a return on equity of 4.66% and a net margin of 0.81%. The company had revenue of $195.44 million for the quarter, compared to analysts’ expectations of $191.65 million. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.86) earnings per share.
Several analysts have recently issued reports on the company. Zacks Investment Research upgraded Shutterfly from a “hold” rating to a “strong-buy” rating and set a $57.00 price objective on the stock in a research note on Friday, July 28th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $47.00 price objective on shares of Shutterfly in a research note on Wednesday, October 11th. BidaskClub cut Shutterfly from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. SunTrust Banks, Inc. assumed coverage on Shutterfly in a research note on Tuesday, August 15th. They issued a “buy” rating and a $56.00 price objective on the stock. Finally, ValuEngine cut Shutterfly from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $53.50.
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Shares of Shutterfly (NASDAQ SFLY) opened at $41.03 on Monday. The stock has a market capitalization of $1,347.14, a price-to-earnings ratio of 66.18 and a beta of 0.85. Shutterfly has a 52 week low of $40.47 and a 52 week high of $53.99.
In related news, SVP Ishantha Lokuge sold 7,162 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $48.85, for a total value of $349,863.70. Following the transaction, the senior vice president now owns 7,162 shares of the company’s stock, valued at $349,863.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael W. Pope sold 35,000 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $42.08, for a total value of $1,472,800.00. Following the completion of the transaction, the chief financial officer now directly owns 17,500 shares in the company, valued at approximately $736,400. The disclosure for this sale can be found here. Insiders sold 46,894 shares of company stock worth $2,048,959 in the last three months. 5.70% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Bessemer Group Inc. purchased a new position in Shutterfly in the third quarter valued at $112,000. Riverhead Capital Management LLC grew its holdings in shares of Shutterfly by 62.1% during the second quarter. Riverhead Capital Management LLC now owns 2,431 shares of the technology company’s stock worth $116,000 after purchasing an additional 931 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Shutterfly during the second quarter worth about $119,000. LS Investment Advisors LLC grew its holdings in shares of Shutterfly by 132.9% during the second quarter. LS Investment Advisors LLC now owns 2,888 shares of the technology company’s stock worth $137,000 after purchasing an additional 1,648 shares during the last quarter. Finally, Pinebridge Investments L.P. grew its holdings in shares of Shutterfly by 1.4% during the second quarter. Pinebridge Investments L.P. now owns 4,450 shares of the technology company’s stock worth $211,000 after purchasing an additional 60 shares during the last quarter.
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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