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Monotype Imaging (TYPE - Snapshot Report) has posted several positive earnings surprises and is now a
Zacks #1 Rank
Monotype Imaging Holdings Inc., through its subsidiaries, provides
end-user and embedded text imaging solutions for use in print, Web
and mobile environments that enable people to create content on
various devices worldwide. It offers a collection of approximately
14,000 typefaces consisting of owned and licensed fonts; monotype,
linotype, and ITC typeface libraries; custom font design services
for corporate branding and identity purposes; and PCL 6 and
PostScript 3 font collections. The company's customers include
consumer electronic device manufacturers, independent software
vendors, and content creators. Monotype Imaging Holdings Inc. is
headquartered in Woburn, Massachusetts.
Monotype Imaging Meets or Beats Estimates Seven Straight
Monotype Imaging has met or topped the Zacks Consensus
Estimate in each of the last seven quarters. The average beat has
been $0.02 more than the Zacks Consensus Estimate which works out
to be a 14% positive earnings surprise. That is among the larger
average surprises that has been profiled here in some time. As a
result of the strong positive earnings surprises, the stock has
moved higher by an average of 7.6% following the earnings release.
The largest price movement in the stock came the day after
the company crushed estimates. The December 2010 quarter saw the
company beat the topline estimate of $28 million by posting
revenues of $29 million. EPS of $0.17 was $0.04 higher than the
Consensus Estimate and the stock moved higher by more than 20%.
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Monotype Imaging Most Recent Reported Earnings
On May 1, 2012 Monotype Imaging reported revenue of $34
million, approximately $1 million higher than the Zacks Consensus
and up from $30
million reported in year ago quarter, an increase
of 13%. Earnings per
share came in at $0.20, $0.01 higher than
the Zacks Consensus Estimate of $0.19. The beat of 5.3%
helped lift the stock higher by about 1% in the session following
release. This marked the third straight quarter the company
reported $0.20 per share in earnings.
Monotype Imaging Sees Estimates Moving Higher
Monotype Imaging has seen earnings estimates move higher
following the recent positive earnings surprise. The Zacks
Consensus Estimate for 2012 was as low as $0.85 in February 2011
and has since bumped higher to $0.86.
Estimates for 2013 have also seen an increase following the most
recent quarterly release. The Zacks Consensus Estimate for 2013
stood at $0.96 in December 2011 and
has since moved to $1.05.
The valuation for Monotype Imaging is mostly in line with the
industry average. A 17x trailing twelve months PE multiple is
just higher than the 16.5x industry average. The same is true of
the forward earnings multiple of 15.5X for TYPE and the 14x
industry average. Price to book shows the stock trading at a
slight discount to the industry average while price to sales show
the stock trading at a slight premium.
A quick look at the price and consensus chart shows a stock that
has moved higher as estimates moved higher. The gap between the
2013 line and the 2012 line was probably a bit too much and could
have been a single analyst estimate, so the decrease there
shouldn't be too much of a cause of concern. More to that point,
the 2013 line has been heading in the direction that an aggressive
growth investor is looking for. Monotype Imaging has moved to a
Zacks #1 Rank (Strong Buy) as of May 2, 2012.
Brian Bolan is the Aggressive Growth Stock Strategist
Zacks.com. He is also the Editor in charge of the Zacks Home Run Investor
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