Wall Street brokerages expect Dolby Laboratories, Inc. (NYSE:DLB) to announce sales of $337.76 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Dolby Laboratories’ earnings. The highest sales estimate is $341.03 million and the lowest is $332.80 million. Dolby Laboratories posted sales of $301.36 million in the same quarter last year, which suggests a positive year over year growth rate of 12.1%. The business is expected to announce its next quarterly earnings report on Tuesday, April 23rd.
According to Zacks, analysts expect that Dolby Laboratories will report full year sales of $1.25 billion for the current fiscal year, with estimates ranging from $1.25 billion to $1.26 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.35 billion, with estimates ranging from $1.32 billion to $1.37 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last released its earnings results on Wednesday, January 30th. The electronics maker reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.40. The company had revenue of $302.40 million during the quarter, compared to analyst estimates of $295.04 million. Dolby Laboratories had a return on equity of 11.30% and a net margin of 25.47%. Dolby Laboratories’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.80) earnings per share.
DLB has been the subject of several research reports. B. Riley set a $67.00 price objective on Dolby Laboratories and gave the company a “hold” rating in a report on Tuesday, December 4th. Zacks Investment Research lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, January 17th. Finally, Barrington Research reissued a “buy” rating and set a $85.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 31st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $75.75.
Shares of DLB stock traded up $0.29 during trading on Thursday, hitting $64.74. The company’s stock had a trading volume of 399,814 shares, compared to its average volume of 496,301. The firm has a market cap of $6.64 billion, a PE ratio of 26.98, a P/E/G ratio of 2.22 and a beta of 0.87. Dolby Laboratories has a 52 week low of $58.17 and a 52 week high of $72.04.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 21st. Shareholders of record on Tuesday, February 12th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.17%. The ex-dividend date was Monday, February 11th. Dolby Laboratories’s dividend payout ratio (DPR) is 31.67%.
In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 50,000 shares of the stock in a transaction on Friday, February 8th. The stock was sold at an average price of $63.35, for a total transaction of $3,167,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lewis Chew sold 35,000 shares of the stock in a transaction on Friday, February 8th. The shares were sold at an average price of $63.28, for a total value of $2,214,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 715,840 shares of company stock valued at $46,364,650. 40.23% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in shares of Dolby Laboratories by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 381,272 shares of the electronics maker’s stock worth $23,521,000 after acquiring an additional 1,841 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Dolby Laboratories by 27.9% during the third quarter. Russell Investments Group Ltd. now owns 30,589 shares of the electronics maker’s stock worth $2,140,000 after acquiring an additional 6,674 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Dolby Laboratories during the third quarter worth $302,000. Janney Montgomery Scott LLC lifted its position in shares of Dolby Laboratories by 3.4% during the third quarter. Janney Montgomery Scott LLC now owns 37,698 shares of the electronics maker’s stock worth $2,638,000 after acquiring an additional 1,243 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Dolby Laboratories during the third quarter worth $699,000. 55.78% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading: Ex-Dividend
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