Monotype Imaging (NASDAQ:TYPE) released its earnings results on Friday. The software maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.31, Morningstar.com reports. The firm had revenue of $65.02 million during the quarter, compared to the consensus estimate of $62.45 million. Monotype Imaging had a return on equity of 2.47% and a net margin of 0.06%. The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 earnings per share. 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 trading hours on Friday, hitting $24.60. The stock had a trading volume of 1,520,078 shares, compared to its average volume of 169,657. Monotype Imaging has a one year low of $15.75 and a one year high of $26.75. The firm has a market cap of $1,026.66, a P/E ratio of 52.34, a PEG 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.
A number of brokerages have recently commented on TYPE. BidaskClub upgraded Monotype Imaging from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. B. Riley increased their price objective on Monotype Imaging from $20.00 to $24.50 and gave the company a “neutral” rating in a research report on Wednesday, November 1st. Zacks Investment Research downgraded Monotype Imaging from a “hold” rating to a “sell” rating in a research report on Saturday, February 10th. ValuEngine downgraded Monotype Imaging from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. downgraded Monotype Imaging from a “neutral” rating to an “underweight” rating and set a $24.00 price objective for the company. in a research report on Tuesday, December 12th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company has an average rating of “Sell” and a consensus target price of $23.17.
A number of large investors have recently made changes to their positions in the business. Royal Bank of Canada raised its stake in Monotype Imaging by 0.9% during the 2nd quarter. Royal Bank of Canada now owns 81,759 shares of the software maker’s stock valued at $1,496,000 after purchasing an additional 739 shares during the period. Voya Investment Management LLC increased its stake in shares of Monotype Imaging by 8.4% in the second quarter. Voya Investment Management LLC now owns 21,703 shares of the software maker’s stock worth $397,000 after acquiring an additional 1,684 shares during the last quarter. WCM Investment Management CA increased its stake in shares of Monotype Imaging by 5.2% in the third quarter. WCM Investment Management CA now owns 59,589 shares of the software maker’s stock worth $1,147,000 after acquiring an additional 2,930 shares during the last quarter. First Manhattan Co. increased its stake in shares of Monotype Imaging by 30.0% in the fourth quarter. First Manhattan Co. now owns 13,000 shares of the software maker’s stock worth $313,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Granahan Investment Management Inc. MA increased its stake in shares of Monotype Imaging by 1.1% in the third quarter. Granahan Investment Management Inc. MA now owns 269,339 shares of the software maker’s stock worth $5,185,000 after acquiring an additional 3,062 shares during the last quarter. 94.25% of the stock is currently owned by institutional investors.
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Monotype Imaging Company Profile
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).
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