Pacific Crest Increases Mentor Graphics Corp. Price Target to $26.00 (MENT)
Research analysts at Pacific Crest hoisted their price target on shares of Mentor Graphics Corp. (NASDAQ:MENT) from $24.00 to $26.00 in a report released on Monday, StockRatingsNetwork.com reports. The firm currently has an “outperform” rating on the stock. Pacific Crest’s price target indicates a potential upside of 13.64% from the stock’s previous close.
Shares of Mentor Graphics Corp. (NASDAQ:MENT) opened at 22.88 on Monday. Mentor Graphics Corp. has a 1-year low of $13.21 and a 1-year high of $23.60. The stock’s 50-day moving average is $21.95 and its 200-day moving average is $19.. The company has a market cap of $2.592 billion and a price-to-earnings ratio of 24.21.
Mentor Graphics Corp. (NASDAQ:MENT) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.09. The company had revenue of $253.22 million for the quarter, compared to the consensus estimate of $244.90 million. During the same quarter last year, the company posted $0.21 earnings per share. Mentor Graphics Corp.’s revenue was up 5.1% compared to the same quarter last year. Analysts expect that Mentor Graphics Corp. will post $1.59 EPS for the current fiscal year.
MENT has been the subject of a number of other recent research reports. Analysts at DA Davidson reiterated a “buy” rating on shares of Mentor Graphics Corp. (NASDAQ:MENT) in a research note to investors on Thursday, September 12th. They now have a $26.00 price target on the stock, up previously from $25.00. Separately, analysts at Zacks upgraded shares of Mentor Graphics Corp. (NASDAQ:MENT) from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, September 2nd. They now have a $23.40 price target on the stock. Finally, analysts at Thomson Reuters/Verus downgraded shares of Mentor Graphics Corp. (NASDAQ:MENT) from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 2nd.
Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $24.63.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 30th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.05 per share. This represents a $0.18 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Friday, September 6th.
In other Mentor Graphics Corp. news, President Gregory Hinckley sold 8,281 shares of the stock on the open market in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $22.86, for a total transaction of $189,303.66. Following the completion of the sale, the president now directly owns 333,805 shares of the company’s stock, valued at approximately $7,630,782. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Mentor Graphics Corporation is a supplier of electronic design automation (NASDAQ:MENT) tools – computer software and emulation hardware systems used to automate the design, analysis, and testing of electro-mechanical systems, electronic hardware, and embedded systems software in electronic systems and components.
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