Monotype Imaging Holdings Inc. (TYPE) Issues Q3 Earnings Guidance
Monotype Imaging Holdings Inc. (NASDAQ:TYPE) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.17-0.22 for the period, compared to the Thomson Reuters consensus estimate of $0.26. The company issued revenue guidance of $49.5-53.5 million, compared to the consensus revenue estimate of $51.42 million.
Shares of Monotype Imaging Holdings Inc. (NASDAQ:TYPE) opened at 21.21 on Thursday. The stock has a market cap of $835.19 million, a PE ratio of 34.49 and a beta of 0.90. The firm’s 50-day moving average is $21.23 and its 200 day moving average is $22.53. Monotype Imaging Holdings Inc. has a 12 month low of $17.31 and a 12 month high of $27.76.
Monotype Imaging Holdings (NASDAQ:TYPE) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. Monotype Imaging Holdings had a net margin of 12.46% and a return on equity of 11.28%. The business had revenue of $48.70 million for the quarter, compared to the consensus estimate of $48.98 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts predict that Monotype Imaging Holdings Inc. will post $1.07 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, September 29th. Monotype Imaging Holdings’s dividend payout ratio is currently 72.13%.
Several equities analysts have weighed in on the stock. B. Riley reaffirmed a buy rating and set a $24.00 price target on shares of Monotype Imaging Holdings in a report on Tuesday. Zacks Investment Research raised shares of Monotype Imaging Holdings from a sell rating to a hold rating in a report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Monotype Imaging Holdings has a consensus rating of Hold and a consensus target price of $27.80.
In other Monotype Imaging Holdings news, EVP Benjamin W.L. Semmes III purchased 12,500 shares of Monotype Imaging Holdings stock in a transaction that occurred on Monday, August 1st. The shares were bought at an average price of $20.49 per share, for a total transaction of $256,125.00. Following the completion of the transaction, the executive vice president now owns 62,163 shares of the company’s stock, valued at approximately $1,273,719.87. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Scott E. Landers purchased 3,285 shares of Monotype Imaging Holdings stock in a transaction that occurred on Monday, August 1st. The stock was acquired at an average price of $20.42 per share, for a total transaction of $67,079.70. Following the transaction, the chief operating officer now directly owns 159,725 shares of the company’s stock, valued at approximately $3,261,584.50. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. BlackRock Fund Advisors boosted its position in Monotype Imaging Holdings by 4.1% in the second quarter. BlackRock Fund Advisors now owns 2,588,098 shares of the company’s stock worth $63,745,000 after buying an additional 102,924 shares during the period. Atlanta Capital Management Co. L L C boosted its position in Monotype Imaging Holdings by 4.4% in the second quarter. Atlanta Capital Management Co. L L C now owns 970,960 shares of the company’s stock worth $23,915,000 after buying an additional 40,624 shares during the period. Riverhead Capital Management LLC boosted its position in Monotype Imaging Holdings by 13,635.3% in the second quarter. Riverhead Capital Management LLC now owns 638,691 shares of the company’s stock worth $29,068,000 after buying an additional 634,041 shares during the period. TIAA CREF Investment Management LLC boosted its position in Monotype Imaging Holdings by 16.9% in the second quarter. TIAA CREF Investment Management LLC now owns 190,513 shares of the company’s stock worth $4,692,000 after buying an additional 27,598 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in Monotype Imaging Holdings by 11.6% in the second quarter. Parametric Portfolio Associates LLC now owns 187,460 shares of the company’s stock worth $4,617,000 after buying an additional 19,444 shares during the period. Institutional investors own 93.58% of the company’s stock.
About Monotype Imaging Holdings
Monotype Imaging Holdings Inc (Monotype) is a provider of type and technology for applications and consumer devices. The Company’s business segment operates through development, marketing and licensing of technologies and fonts. Its business includes Creative Professional and original equipment manufacturer (OEM).
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