Analysts Expect Dolby Laboratories, Inc. (DLB) Will Post Earnings of $0.65 Per Share
Equities analysts predict that Dolby Laboratories, Inc. (NYSE:DLB) will announce earnings per share of $0.65 for the current quarter, according to Zacks. Five analysts have issued estimates for Dolby Laboratories’ earnings, with the lowest EPS estimate coming in at $0.63 and the highest estimate coming in at $0.67. Dolby Laboratories also reported earnings of $0.65 per share in the same quarter last year. The firm is expected to report its next earnings results on Wednesday, July 26th.
On average, analysts expect that Dolby Laboratories will report full-year earnings of $1.97 per share for the current fiscal year, with EPS estimates ranging from $1.93 to $2.01. For the next fiscal year, analysts expect that the firm will report earnings of $2.25 per share, with EPS estimates ranging from $2.09 to $2.40. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Wednesday, April 26th. The electronics maker reported $0.47 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.47. Dolby Laboratories had a return on equity of 10.87% and a net margin of 19.82%. The company had revenue of $267.50 million during the quarter, compared to the consensus estimate of $273.84 million. During the same quarter last year, the company earned $0.82 EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis.
DLB has been the subject of several recent analyst reports. Zacks Investment Research cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, March 28th. B. Riley restated a “neutral” rating and set a $57.00 target price on shares of Dolby Laboratories in a research note on Sunday, April 30th. Finally, Piper Jaffray Companies restated a “hold” rating on shares of Dolby Laboratories in a research note on Thursday, January 26th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $54.00.
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In other news, CFO Lewis Chew sold 14,300 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $50.34, for a total transaction of $719,862.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nicholas Donatiello, Jr. sold 2,000 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $51.75, for a total transaction of $103,500.00. The disclosure for this sale can be found here. Insiders have sold 53,300 shares of company stock valued at $2,726,762 over the last 90 days. Corporate insiders own 43.80% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Dolby Laboratories by 8.4% in the first quarter. Vanguard Group Inc. now owns 4,621,794 shares of the electronics maker’s stock valued at $242,228,000 after buying an additional 359,509 shares during the period. BlackRock Inc. increased its position in shares of Dolby Laboratories by 13,583.7% in the first quarter. BlackRock Inc. now owns 2,431,722 shares of the electronics maker’s stock valued at $127,449,000 after buying an additional 2,413,951 shares during the period. Renaissance Technologies LLC increased its position in shares of Dolby Laboratories by 55.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,892,400 shares of the electronics maker’s stock valued at $85,518,000 after buying an additional 674,100 shares during the period. American Century Companies Inc. increased its position in shares of Dolby Laboratories by 35.5% in the first quarter. American Century Companies Inc. now owns 1,710,462 shares of the electronics maker’s stock valued at $89,645,000 after buying an additional 448,302 shares during the period. Finally, TimesSquare Capital Management LLC increased its position in shares of Dolby Laboratories by 6.0% in the first quarter. TimesSquare Capital Management LLC now owns 1,678,700 shares of the electronics maker’s stock valued at $87,981,000 after buying an additional 95,700 shares during the period. Institutional investors own 51.35% of the company’s stock.
Shares of Dolby Laboratories (NYSE:DLB) traded up 0.56% during mid-day trading on Friday, hitting $50.66. The company’s stock had a trading volume of 456,377 shares. Dolby Laboratories has a 1-year low of $44.99 and a 1-year high of $55.02. The company has a 50-day moving average of $51.45 and a 200 day moving average of $49.22. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 27.52 and a beta of 0.54.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 16th. Shareholders of record on Monday, May 8th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.11%. The ex-dividend date was Thursday, May 4th. Dolby Laboratories’s payout ratio is presently 27.72%.
About Dolby Laboratories
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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