Mentor Graphics Corp. Sees Unusually-High Trading Volume on Earnings Beat (MENT)
Mentor Graphics Corp. (NASDAQ:MENT) saw unusually-high trading volume on Friday following a stronger than expected earnings report, Analyst Ratings News reports. Approximately 607,580 shares changed hands during trading, an increase of 19% from the previous session’s volume of 512,379 shares.The stock last traded at $21.91 and had previously closed at $21.43.
The company reported $0.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.15 by $0.08. The company had revenue of $260.20 million for the quarter. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.93%.
The stock’s 50-day moving average is $21.01 and its 200-day moving average is $21.15. The company has a market cap of $2.480 billion and a P/E ratio of 16.97.
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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