Analysts expect that Dolby Laboratories, Inc. (NYSE:DLB) will report $0.48 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Dolby Laboratories’ earnings. The highest EPS estimate is $0.51 and the lowest is $0.44. Dolby Laboratories posted earnings per share of $0.86 during the same quarter last year, which indicates a negative year over year growth rate of 44.2%. The company is scheduled to issue its next earnings results after the market closes on Thursday, July 29th.
According to Zacks, analysts expect that Dolby Laboratories will report full-year earnings of $3.52 per share for the current fiscal year, with EPS estimates ranging from $3.40 to $3.61. For the next financial year, analysts anticipate that the business will report earnings of $3.87 per share, with EPS estimates ranging from $3.80 to $4.00. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Tuesday, May 4th. The electronics maker reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.44. Dolby Laboratories had a net margin of 24.89% and a return on equity of 12.26%. The firm had revenue of $319.56 million for the quarter, compared to analyst estimates of $294.29 million. During the same period in the prior year, the firm posted $1.04 earnings per share. The company’s quarterly revenue was down 9.2% compared to the same quarter last year.
Shares of DLB traded down $1.41 during trading hours on Thursday, hitting $96.87. The company had a trading volume of 11,994 shares, compared to its average volume of 295,122. The stock has a market capitalization of $9.82 billion, a price-to-earnings ratio of 33.32, a price-to-earnings-growth ratio of 2.78 and a beta of 0.97. The stock has a fifty day moving average price of $98.10. Dolby Laboratories has a 12 month low of $63.45 and a 12 month high of $104.74.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 25th. Stockholders of record on Monday, May 17th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Friday, May 14th. Dolby Laboratories’s payout ratio is presently 38.26%.
In related news, CFO Lewis Chew sold 30,918 shares of the company’s stock in a transaction dated Thursday, May 20th. The shares were sold at an average price of $96.67, for a total value of $2,988,843.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kevin J. Yeaman sold 29,457 shares of the stock in a transaction dated Tuesday, July 13th. The stock was sold at an average price of $99.37, for a total transaction of $2,927,142.09. The disclosure for this sale can be found here. Insiders sold 89,832 shares of company stock worth $8,849,313 over the last 90 days. 37.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in DLB. Los Angeles Capital Management LLC grew its stake in Dolby Laboratories by 7.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 34,336 shares of the electronics maker’s stock worth $3,335,000 after buying an additional 2,400 shares in the last quarter. Rhumbline Advisers grew its stake in Dolby Laboratories by 5.1% during the fourth quarter. Rhumbline Advisers now owns 84,283 shares of the electronics maker’s stock worth $8,186,000 after buying an additional 4,103 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Dolby Laboratories by 59.7% during the fourth quarter. Teacher Retirement System of Texas now owns 5,919 shares of the electronics maker’s stock worth $575,000 after buying an additional 2,212 shares in the last quarter. Northern Trust Corp grew its stake in Dolby Laboratories by 0.4% during the fourth quarter. Northern Trust Corp now owns 327,417 shares of the electronics maker’s stock worth $31,802,000 after buying an additional 1,280 shares in the last quarter. Finally, M&T Bank Corp grew its stake in Dolby Laboratories by 3.8% during the fourth quarter. M&T Bank Corp now owns 7,924 shares of the electronics maker’s stock worth $769,000 after buying an additional 289 shares in the last quarter. Hedge funds and other institutional investors own 59.49% of the company’s stock.
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 a range of media applications.; 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 cinema and a range of media devices.
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