Dolby Laboratories (DLB) Announces Quarterly Results
Dolby Laboratories (NYSE:DLB) released its earnings data on Thursday. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.34 by $0.25, Analyst RN reports. The company had revenue of $231.30 million for the quarter, compared to the consensus estimate of $212.08 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis.
In other Dolby Laboratories news, major shareholder Dagmar Dolby sold 70,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.65, for a total value of $2,845,500.00. The sale was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
A number of analysts have recently weighed in on DLB shares. Analysts at Zacks upgraded shares of Dolby Laboratories from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, December 31st. They now have a $39.40 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $35.47.
Shares of Dolby Laboratories (NYSE:DLB) traded up 1.99% on Thursday, hitting $41.52. 1,051,019 shares of the company’s stock traded hands. Dolby Laboratories has a 1-year low of $30.78 and a 1-year high of $41.97. The stock’s 50-day moving average is $38.70 and its 200-day moving average is $35.21. The company has a market cap of $4.225 billion and a P/E ratio of 22.12.
Dolby Laboratories, Inc develops and delivers products and technologies that are used in the entertainment industry.
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