Wall Street analysts predict that Dolby Laboratories, Inc. (NYSE:DLB) will announce $0.49 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Dolby Laboratories’ earnings. The lowest EPS estimate is $0.47 and the highest is $0.51. Dolby Laboratories reported earnings of $0.92 per share during the same quarter last year, which indicates a negative year over year growth rate of 46.7%. The firm is scheduled to report its next earnings report on Wednesday, July 24th.
On average, analysts expect that Dolby Laboratories will report full-year earnings of $2.38 per share for the current financial year, with EPS estimates ranging from $2.33 to $2.42. For the next financial year, analysts forecast that the firm will report earnings of $2.93 per share, with EPS estimates ranging from $2.82 to $3.10. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Wednesday, May 1st. The electronics maker reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.18. The business had revenue of $338.26 million for the quarter, compared to analyst estimates of $337.45 million. Dolby Laboratories had a return on equity of 11.12% and a net margin of 24.93%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.73 EPS.
DLB has been the subject of several analyst reports. Barrington Research restated a “buy” rating and set a $85.00 target price on shares of Dolby Laboratories in a research report on Thursday, January 31st. Zacks Investment Research upgraded Dolby Laboratories from a “hold” rating to a “strong-buy” rating and set a $74.00 price objective for the company in a research report on Friday, May 3rd. Finally, ValuEngine cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $76.50.
In other news, major shareholder Dagmar Dolby sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $65.72, for a total value of $6,572,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kevin J. Yeaman sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $64.80, for a total value of $3,240,000.00. The disclosure for this sale can be found here. Insiders sold 967,959 shares of company stock worth $63,085,984 in the last 90 days. Corporate insiders own 40.23% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DLB. Bank of New York Mellon Corp lifted its stake in shares of Dolby Laboratories by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 387,103 shares of the electronics maker’s stock valued at $27,086,000 after acquiring an additional 5,831 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Dolby Laboratories by 33.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 61,880 shares of the electronics maker’s stock valued at $4,329,000 after acquiring an additional 15,497 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Dolby Laboratories by 8.4% in the 3rd quarter. Legal & General Group Plc now owns 36,145 shares of the electronics maker’s stock valued at $2,529,000 after acquiring an additional 2,805 shares during the last quarter. Morgan Stanley lifted its stake in shares of Dolby Laboratories by 3.1% in the 3rd quarter. Morgan Stanley now owns 45,850 shares of the electronics maker’s stock valued at $3,208,000 after acquiring an additional 1,376 shares during the last quarter. Finally, Vanguard Group Inc lifted its stake in shares of Dolby Laboratories by 4.0% in the 3rd quarter. Vanguard Group Inc now owns 5,508,279 shares of the electronics maker’s stock valued at $385,415,000 after acquiring an additional 209,633 shares during the last quarter. Hedge funds and other institutional investors own 53.67% of the company’s stock.
DLB opened at $62.08 on Friday. Dolby Laboratories has a 12-month low of $58.17 and a 12-month high of $72.04. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 2.01 and a beta of 0.86.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were issued a dividend of $0.19 per share. The ex-dividend date was Monday, May 13th. This represents a $0.76 annualized dividend and a yield of 1.22%. Dolby Laboratories’s payout ratio is presently 31.67%.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.
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