Dolby Laboratories Stock Rating Upgraded by Zacks (DLB)
Dolby Laboratories (NYSE:DLB) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued on Tuesday. The firm currently has a $46.00 price target on the stock. Zacks‘s price target suggests a potential upside of 5.46% from the stock’s previous close.
A number of other firms have also recently commented on DLB. Analysts at B. Riley initiated coverage on shares of Dolby Laboratories in a research note on Tuesday. They set a “neutral” rating and a $41.00 price target on the stock. 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 analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $41.67.
Dolby Laboratories (NYSE:DLB) traded up 0.97% during mid-day trading on Tuesday, hitting $43.62. The stock had a trading volume of 449,812 shares. Dolby Laboratories has a one year low of $31.00 and a one year high of $45.16. The stock has a 50-day moving average of $41.35 and a 200-day moving average of $41.53. The company has a market cap of $4.474 billion and a P/E ratio of 22.72.
Dolby Laboratories (NYSE:DLB) last announced its earnings results 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.
Dolby Laboratories, Inc develops and delivers products and technologies that are used in the entertainment industry.
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