Mentor Graphics Corp. (MENT) Releases Earnings Results, Beats Estimates By $0.09 EPS
Mentor Graphics Corp. (NASDAQ:MENT) issued its earnings results on Tuesday. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. Mentor Graphics Corp. had a return on equity of 6.15% and a net margin of 5.85%. The company had revenue of $322.52 million for the quarter, compared to analyst estimates of $309.43 million. During the same period in the prior year, the firm earned $0.28 earnings per share. Mentor Graphics Corp.’s revenue for the quarter was up 11.0% on a year-over-year basis.
Mentor Graphics Corp. (NASDAQ:MENT) opened at 36.53 on Wednesday. The company has a market cap of $3.95 billion, a P/E ratio of 63.53 and a beta of 0.66. Mentor Graphics Corp. has a 52 week low of $16.10 and a 52 week high of $37.03. The firm has a 50-day moving average price of $29.95 and a 200-day moving average price of $24.17.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 8th will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 0.60%. Mentor Graphics Corp.’s dividend payout ratio (DPR) is presently 40.74%.
Several equities research analysts recently issued reports on MENT shares. Zacks Investment Research upgraded Mentor Graphics Corp. from a “strong sell” rating to a “hold” rating in a report on Thursday, October 20th. Pacific Crest reiterated a “hold” rating on shares of Mentor Graphics Corp. in a report on Thursday, August 18th. TheStreet upgraded Mentor Graphics Corp. from a “hold” rating to a “buy” rating in a report on Friday, October 7th. DA Davidson upgraded Mentor Graphics Corp. from a “neutral” rating to a “buy” rating and upped their price target for the stock from $24.00 to $32.00 in a report on Monday, October 10th. They noted that the move was a valuation call. Finally, KeyCorp reiterated a “hold” rating on shares of Mentor Graphics Corp. in a report on Tuesday, August 16th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.33.
Large investors have recently modified their holdings of the company. State Street Corp boosted its position in Mentor Graphics Corp. by 2.4% in the first quarter. State Street Corp now owns 3,115,698 shares of the company’s stock worth $63,334,000 after buying an additional 74,165 shares during the last quarter. Foundry Partners LLC boosted its position in Mentor Graphics Corp. by 5.9% in the third quarter. Foundry Partners LLC now owns 430,555 shares of the company’s stock worth $11,384,000 after buying an additional 24,147 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Mentor Graphics Corp. by 4.2% in the second quarter. Oppenheimer & Co. Inc. now owns 241,784 shares of the company’s stock worth $5,140,000 after buying an additional 9,855 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new position in Mentor Graphics Corp. during the second quarter worth approximately $1,233,000. Finally, LSV Asset Management boosted its position in Mentor Graphics Corp. by 54.7% in the second quarter. LSV Asset Management now owns 3,207,764 shares of the company’s stock worth $68,197,000 after buying an additional 1,134,128 shares during the last quarter. Hedge funds and other institutional investors own 94.13% of the company’s stock.
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About Mentor Graphics Corp.
Mentor Graphics Corporation is a supplier of electronic design automation (EDA) tools, which include computer software and emulation hardware systems used to automate the design, analysis and testing of complex electro-mechanical systems, electronic hardware and embedded systems software in electronic systems and components.
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