Wall Street brokerages expect Dolby Laboratories, Inc. (NYSE:DLB) to report earnings per share of $0.64 for the current quarter, according to Zacks. Four analysts have issued estimates for Dolby Laboratories’ earnings, with the highest EPS estimate coming in at $0.66 and the lowest estimate coming in at $0.63. Dolby Laboratories reported earnings per share of $0.63 in the same quarter last year, which would suggest a positive year over year growth rate of 1.6%. The company is scheduled to issue its next earnings report on Wednesday, April 25th.
On average, analysts expect that Dolby Laboratories will report full year earnings of $0.99 per share for the current financial year, with EPS estimates ranging from $0.79 to $1.15. For the next financial year, analysts expect that the firm will report earnings of $2.74 per share, with EPS estimates ranging from $2.58 to $2.87. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.35. Dolby Laboratories had a net margin of 6.06% and a return on equity of 12.02%. The firm had revenue of $287.80 million during the quarter, compared to analysts’ expectations of $265.75 million. During the same period last year, the business earned $0.66 earnings per share. Dolby Laboratories’s revenue was up 8.1% compared to the same quarter last year.
Several equities research analysts recently issued reports on DLB shares. Zacks Investment Research cut shares of Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 31st. B. Riley cut shares of Dolby Laboratories from a “buy” rating to a “neutral” rating and set a $63.00 price target for the company. in a research report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Dolby Laboratories from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $62.00.
Dolby Laboratories (DLB) traded down $1.93 during trading on Friday, reaching $63.34. 551,415 shares of the company traded hands, compared to its average volume of 437,521. Dolby Laboratories has a 52-week low of $48.00 and a 52-week high of $74.29. The firm has a market capitalization of $6,445.40, a PE ratio of 100.18, a P/E/G ratio of 5.24 and a beta of 0.78.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Monday, February 5th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, February 2nd. Dolby Laboratories’s dividend payout ratio is presently 101.59%.
In related news, insider Kevin J. Yeaman sold 100,000 shares of Dolby Laboratories stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $62.33, for a total value of $6,233,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bob Borchers sold 148,361 shares of Dolby Laboratories stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $62.15, for a total transaction of $9,220,636.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 599,085 shares of company stock valued at $37,371,528. Company insiders own 43.74% of the company’s stock.
Several hedge funds have recently made changes to their positions in DLB. Elkfork Partners LLC acquired a new position in shares of Dolby Laboratories in the fourth quarter valued at approximately $102,000. Captrust Financial Advisors acquired a new position in shares of Dolby Laboratories in the fourth quarter valued at approximately $122,000. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Dolby Laboratories in the fourth quarter valued at approximately $145,000. The Manufacturers Life Insurance Company grew its holdings in shares of Dolby Laboratories by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock valued at $174,000 after purchasing an additional 725 shares in the last quarter. Finally, Meadow Creek Investment Management LLC acquired a new position in shares of Dolby Laboratories in the fourth quarter valued at approximately $179,000. Hedge funds and other institutional investors own 53.79% of the company’s stock.
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Dolby Laboratories Company Profile
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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