Dolby Laboratories Now Covered by Analysts at B. Riley (DLB)
Investment analysts at B. Riley initiated coverage on shares of Dolby Laboratories (NYSE:DLB) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Shares of Dolby Laboratories (NYSE:DLB) opened at 43.20 on Tuesday. Dolby Laboratories has a 52 week low of $31.00 and a 52 week high of $45.16. The stock’s 50-day moving average is $41.35 and its 200-day moving average is $41.53. The company has a market cap of $4.431 billion and a P/E ratio of 22.19.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.88 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.50 by $0.38. The company had revenue of $278.60 million for the quarter, compared to the consensus estimate of $244.77 million. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. On average, analysts predict that Dolby Laboratories will post $1.76 earnings per share for the current fiscal year.
Separately, analysts at JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Dolby Laboratories in a research note on Wednesday, April 30th. They now have a $38.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $38.70.
Dolby Laboratories, Inc develops and delivers products and technologies that are used in the entertainment industry.
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