$296.96 Million in Sales Expected for Dolby Laboratories (DLB) This Quarter
Equities research analysts forecast that Dolby Laboratories (NYSE:DLB) will report $296.96 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Dolby Laboratories’ earnings, with the lowest sales estimate coming in at $295.71 million and the highest estimate coming in at $298.48 million. Dolby Laboratories reported sales of $277.59 million in the same quarter last year, which would suggest a positive year over year growth rate of 7%. The company is scheduled to report its next quarterly earnings report after the market closes on Tuesday, July 25th.
According to Zacks, analysts expect that Dolby Laboratories will report full year sales of $296.96 million for the current financial year. For the next year, analysts forecast that the company will post sales of $1.15 billion per share, with estimates ranging from $1.13 billion to $1.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last posted its earnings results on Wednesday, April 26th. The electronics maker reported $0.47 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. The company had revenue of $267.50 million for the quarter, compared to analyst estimates of $273.84 million. Dolby Laboratories had a return on equity of 9.91% and a net margin of 18.34%. Dolby Laboratories’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 earnings per share.
Several equities analysts have recently issued reports on DLB shares. Zacks Investment Research upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a research report on Thursday, April 6th. BidaskClub cut Dolby Laboratories from a “hold” rating to a “sell” rating in a report on Saturday, June 10th. Finally, B. Riley upgraded Dolby Laboratories from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $57.00 to $61.50 in a report on Monday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $54.90.
In other news, Director Nicholas Donatiello, Jr. sold 2,000 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $51.75, for a total value of $103,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin J. Yeaman sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $51.33, for a total value of $513,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,300 shares of company stock valued at $1,336,662. 43.80% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. Watermark Asset Management Inc. acquired a new stake in shares of Dolby Laboratories during the first quarter valued at approximately $114,000. James Investment Research Inc. acquired a new stake in shares of Dolby Laboratories during the first quarter valued at approximately $155,000. US Bancorp DE boosted its stake in shares of Dolby Laboratories by 4.8% in the first quarter. US Bancorp DE now owns 2,951 shares of the electronics maker’s stock valued at $155,000 after buying an additional 135 shares during the period. Northeast Financial Consultants Inc acquired a new stake in shares of Dolby Laboratories during the first quarter valued at approximately $229,000. Finally, CrestPoint Capital Management LLC acquired a new stake in shares of Dolby Laboratories during the second quarter valued at approximately $240,000. 50.60% of the stock is owned by institutional investors and hedge funds.
Dolby Laboratories (NYSE DLB) traded up 0.61% during mid-day trading on Wednesday, reaching $52.86. The company’s stock had a trading volume of 46,003 shares. The company has a market capitalization of $5.42 billion, a PE ratio of 28.71 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 firm has a 50 day moving average price of $50.44 and a 200-day moving average price of $50.30.
Dolby Laboratories Company Profile
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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