Monotype Imaging (NASDAQ:TYPE) released its earnings results on Friday. The software maker reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.31, Morningstar.com reports. Monotype Imaging had a return on equity of 2.47% and a net margin of 0.06%. The firm had revenue of $65.02 million during the quarter, compared to analysts’ expectations of $62.45 million. During the same period in the previous year, the firm posted $0.12 EPS. Monotype Imaging’s revenue for the quarter was up 23.5% on a year-over-year basis. Monotype Imaging updated its Q1 guidance to $0.10-0.15 EPS and its FY18 guidance to $0.76-0.87 EPS.
Shares of Monotype Imaging (NASDAQ TYPE) traded up $1.00 during midday trading on Friday, reaching $24.60. The company’s stock had a trading volume of 1,520,078 shares, compared to its average volume of 169,657. The stock has a market cap of $1,026.66, a P/E ratio of 91.11, a price-to-earnings-growth ratio of 3.64 and a beta of 0.88. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.43 and a quick ratio of 2.43. Monotype Imaging has a 12 month low of $15.75 and a 12 month high of $26.75.
Several research analysts recently commented on the company. JPMorgan Chase & Co. cut Monotype Imaging from a “neutral” rating to an “underweight” rating and set a $24.00 target price for the company. in a research note on Tuesday, December 12th. Zacks Investment Research downgraded Monotype Imaging from a “hold” rating to a “sell” rating in a report on Saturday, February 10th. ValuEngine downgraded Monotype Imaging from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. B. Riley lifted their price target on Monotype Imaging from $20.00 to $24.50 and gave the stock a “neutral” rating in a report on Wednesday, November 1st. Finally, BidaskClub raised Monotype Imaging from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Monotype Imaging currently has a consensus rating of “Sell” and a consensus target price of $23.17.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MetLife Investment Advisors LLC purchased a new stake in Monotype Imaging during the 4th quarter worth about $448,000. Millennium Management LLC purchased a new stake in shares of Monotype Imaging in the 4th quarter valued at about $1,026,000. Fondren Management LP lifted its holdings in shares of Monotype Imaging by 9.8% in the 4th quarter. Fondren Management LP now owns 851,137 shares of the software maker’s stock valued at $20,512,000 after purchasing an additional 75,830 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Monotype Imaging by 686.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 863,476 shares of the software maker’s stock valued at $20,810,000 after purchasing an additional 753,637 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Monotype Imaging by 17.9% in the 4th quarter. Deutsche Bank AG now owns 142,230 shares of the software maker’s stock valued at $3,425,000 after purchasing an additional 21,584 shares during the last quarter. 94.25% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: This report was originally posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://www.chaffeybreeze.com/2018/02/18/monotype-imaging-type-announces-quarterly-earnings-results-beats-estimates-by-0-31-eps.html.
About Monotype Imaging
Monotype Imaging Holdings Inc is engaged in the development, marketing and licensing of technologies and fonts. The Company empowers expression and engagement for creatives, designers, engineers and marketers. It organizes its business operations into two areas: creative professionals and original equipment manufacturer (OEM).
Receive News & Ratings for Monotype Imaging Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monotype Imaging and related companies with MarketBeat.com's FREE daily email newsletter.