Mentor Graphics (MENT) Stock Continues to Climb on Q1 Beat
NEW YORK (TheStreet) -- Mentor Graphics (MENT) stock is spiking 6.61% to $20.64 on heavy trading volume late Friday afternoon after the Wilsonville, OR-based company reported better-than-expected results for the 2017 fiscal first quarter.
After yesterday's closing bell, the supplier of electronic hardware and software design products posted earnings of 2 cents per share. Analysts were expecting break even earnings per share.
Revenue was $227.6 million for the quarter, higher than Wall Street's projections of $219.8 million.
For the 2017 fiscal second quarter, Mentor Graphics forecasts earnings of about 9 cents per share on revenue of about $245 million.
Analysts are modeling earnings of 8 cents per share on revenue of $234.7 million.
In fiscal 2017, the company sees earnings of about $1.68 per share on revenue of about $1.22 billion, in line with analysts' estimates.
About 2.55 million of the company's shares were traded so far today vs. its average volume of 881,137 shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and good cash flow from operations.
However, as a counter to these strengths, the team also finds weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: MENT
