Wall Street analysts predict that Dolby Laboratories, Inc. (NYSE:DLB) will report $317.10 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Dolby Laboratories’ earnings, with the highest sales estimate coming in at $319.62 million and the lowest estimate coming in at $314.31 million. Dolby Laboratories posted sales of $305.67 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The business is expected to announce its next quarterly earnings results on Tuesday, July 24th.
On average, analysts expect that Dolby Laboratories will report full-year sales of $1.18 billion for the current fiscal year. For the next fiscal year, analysts expect that the firm will report sales of $1.26 billion per share, with estimates ranging from $1.23 billion to $1.27 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Dolby Laboratories.
Get Dolby Laboratories alerts:Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Tuesday, April 24th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.14. Dolby Laboratories had a net margin of 7.64% and a return on equity of 12.73%. The business had revenue of $301.36 million during the quarter, compared to analyst estimates of $300.37 million. During the same period last year, the firm posted $0.63 EPS. The company’s revenue was up 12.7% on a year-over-year basis.
A number of brokerages have issued reports on DLB. Zacks Investment Research raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a report on Wednesday, March 28th. Barrington Research reaffirmed a “buy” rating and set a $78.00 price objective on shares of Dolby Laboratories in a report on Tuesday, May 1st. Finally, ValuEngine raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $66.50.
In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 10,000 shares of Dolby Laboratories stock in a transaction on Monday, February 26th. The shares were sold at an average price of $65.00, for a total transaction of $650,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $60.81, for a total transaction of $6,081,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,153,948 shares of company stock valued at $71,420,638. 43.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. D.A. Davidson & CO. boosted its stake in Dolby Laboratories by 3.8% during the first quarter. D.A. Davidson & CO. now owns 25,802 shares of the electronics maker’s stock worth $1,640,000 after buying an additional 952 shares during the period. US Bancorp DE boosted its stake in Dolby Laboratories by 33.4% during the fourth quarter. US Bancorp DE now owns 3,852 shares of the electronics maker’s stock worth $239,000 after buying an additional 964 shares during the period. Hermes Investment Management Ltd. boosted its stake in Dolby Laboratories by 6.2% during the fourth quarter. Hermes Investment Management Ltd. now owns 17,201 shares of the electronics maker’s stock worth $1,066,000 after buying an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Dolby Laboratories by 48.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the electronics maker’s stock worth $215,000 after purchasing an additional 1,141 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Dolby Laboratories by 29.2% during the first quarter. The Manufacturers Life Insurance Company now owns 5,219 shares of the electronics maker’s stock worth $332,000 after purchasing an additional 1,181 shares during the last quarter. 53.73% of the stock is owned by institutional investors.
DLB traded down $0.13 during trading on Tuesday, reaching $61.44. 256,820 shares of the company traded hands, compared to its average volume of 364,479. 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 $6.40 billion, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 2.22 and a beta of 0.76.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 16th. Investors of record on Monday, May 7th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, May 4th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 29.09%.
About Dolby Laboratories
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, including Dolby Digital Plus for digital television, mobile, and Internet-based services; Dolby Digital, a digital audio coding technology that provides multichannel sound in the home; and AAC & HE-AAC, an audio coding technologies used to broadcast, download, and streaming content.
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