Dolby Laboratories Inc. (DLB) Updates Q1 Earnings Guidance
Dolby Laboratories Inc. (NYSE:DLB) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.42-0.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.56, StockRatingsNetwork.com reports. The company issued revenue guidance of $205-215 million, compared to the consensus revenue estimate of $228.85 million.
Shares of Dolby Laboratories Inc. (NYSE:DLB) traded up 3.21% on Tuesday, hitting $36.29. The stock had a trading volume of 647,826 shares. Dolby Laboratories Inc. has a 52 week low of $28.66 and a 52 week high of $37.01. The stock’s 50-day moving average is $32.45 and its 200-day moving average is $33.14. The company has a market cap of $3.693 billion and a P/E ratio of 18.64.
Dolby Laboratories (NYSE:DLB) last released its earnings data on Tuesday, October 29th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.24. The company had revenue of $216.70 million for the quarter, compared to the consensus estimate of $210.12 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts predict that Dolby Laboratories Inc. will post $1.72 earnings per share for the current fiscal year.
On a related note, analysts at Zacks upgraded shares of Dolby Laboratories from an underperform rating to a neutral rating in a research note to investors on Thursday, September 26th. They now have a $35.90 price target on the stock. Three analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Dolby Laboratories currently has an average rating of Hold and a consensus price target of $30.98.
In other Dolby Laboratories news, major shareholder Dagmar Dolby unloaded 40,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $35.14, for a total transaction of $1,405,600.00. The sale was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Dolby Laboratories, Inc develops and delivers products and technologies that are used in the entertainment industry.
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