Wall Street analysts expect Dolby Laboratories, Inc. (NYSE:DLB) to post $0.77 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Dolby Laboratories’ earnings, with estimates ranging from $0.77 to $0.78. Dolby Laboratories reported earnings per share of $0.63 in the same quarter last year, which indicates a positive year over year growth rate of 22.2%. The company is scheduled to report its next earnings results after the market closes on Tuesday, April 24th.
According to Zacks, analysts expect that Dolby Laboratories will report full year earnings of $2.93 per share for the current year, with EPS estimates ranging from $2.88 to $3.00. For the next financial year, analysts forecast that the company will post earnings of $3.24 per share, with EPS estimates ranging from $3.20 to $3.30. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $0.79 EPS for the quarter, beating the 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 business had revenue of $287.80 million for the quarter, compared to analysts’ expectations of $265.75 million. During the same period in the previous year, the company posted $0.66 EPS. Dolby Laboratories’s revenue was up 8.1% on a year-over-year basis.
Several equities analysts have recently commented on the stock. JPMorgan Chase boosted their price target on shares of Dolby Laboratories from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Zacks Investment Research cut shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a report on Monday, January 29th. B. Riley cut shares of Dolby Laboratories from a “buy” rating to a “neutral” rating and set a $63.00 price target on the stock. in a report on Tuesday, January 16th. Finally, ValuEngine upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $64.20.
In related news, Director N William Jasper, Jr. sold 20,000 shares of Dolby Laboratories stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $63.72, for a total value of $1,274,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Gotcher sold 18,544 shares of Dolby Laboratories stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $64.53, for a total transaction of $1,196,644.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 488,820 shares of company stock worth $30,638,698. 43.80% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its stake in shares of Dolby Laboratories by 25.5% in the 2nd 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 during the last quarter. US Bancorp DE lifted its stake in shares of Dolby Laboratories by 33.4% in the 4th quarter. US Bancorp DE now owns 3,852 shares of the electronics maker’s stock valued at $239,000 after purchasing an additional 964 shares during the last quarter. Hermes Investment Management Ltd. lifted its stake in shares of Dolby Laboratories by 6.2% in the 4th quarter. Hermes Investment Management Ltd. now owns 17,201 shares of the electronics maker’s stock valued at $1,066,000 after purchasing an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Dolby Laboratories by 48.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the electronics maker’s stock valued at $215,000 after purchasing an additional 1,141 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Dolby Laboratories by 5.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 23,669 shares of the electronics maker’s stock valued at $1,467,000 after purchasing an additional 1,229 shares during the last quarter. 53.28% of the stock is owned by institutional investors and hedge funds.
Dolby Laboratories stock opened at $69.06 on Monday. Dolby Laboratories has a 12 month low of $48.00 and a 12 month high of $74.29. The firm has a market cap of $7,041.70, a PE ratio of 28.82, a P/E/G ratio of 5.71 and a beta of 0.74.
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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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