Dolby Laboratories (DLB) Set to Announce Quarterly Earnings on Tuesday
Dolby Laboratories (NYSE:DLB) is set to issue its quarterly earnings data after the market closes on Tuesday, July 25th. Analysts expect the company to announce earnings of $0.65 per share for the quarter. Dolby Laboratories has set its Q3 guidance at $0.75-0.81 EPS.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Wednesday, April 26th. The electronics maker reported $0.47 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.47. Dolby Laboratories had a return on equity of 9.91% and a net margin of 18.34%. The company had revenue of $267.50 million during the quarter, compared to the consensus estimate of $273.84 million. During the same period last year, the business earned $0.82 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. On average, analysts expect Dolby Laboratories to post $1.97 EPS for the current fiscal year and $2.25 EPS for the next fiscal year.
Shares of Dolby Laboratories (NYSE:DLB) opened at 53.96 on Tuesday. The stock has a market capitalization of $5.54 billion, a P/E ratio of 29.31 and a beta of 0.77. Dolby Laboratories has a 1-year low of $44.99 and a 1-year high of $55.02. The stock’s 50 day moving average price is $50.48 and its 200-day moving average price is $49.82.
In related news, insider Kevin J. Yeaman sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $51.33, for a total transaction of $513,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lewis Chew sold 14,300 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $50.34, for a total value of $719,862.00. The disclosure for this sale can be found here. Insiders have sold 26,300 shares of company stock valued at $1,336,662 over the last three months. Insiders own 43.80% of the company’s stock.
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Several brokerages recently commented on DLB. BidaskClub cut Dolby Laboratories from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Zacks Investment Research cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Finally, B. Riley raised Dolby Laboratories from a “neutral” rating to a “buy” rating and increased their price target for the company from $57.00 to $61.50 in a research report on Monday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $54.90.
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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