Dolby Laboratories (DLB) Posts Earnings Results, Beats Expectations By $0.21 EPS
Dolby Laboratories (NYSE:DLB) issued its quarterly earnings results on Tuesday. The electronics maker reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.21, Bloomberg Earnings reports. The firm had revenue of $305.67 million for the quarter, compared to analyst estimates of $296.88 million. Dolby Laboratories had a return on equity of 9.91% and a net margin of 18.34%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share.
Dolby Laboratories (DLB) traded down 0.96% during trading on Tuesday, reaching $52.88. The company’s stock had a trading volume of 489,306 shares. The company has a 50 day moving average price of $50.66 and a 200-day moving average price of $50.45. The company has a market capitalization of $5.43 billion, a PE ratio of 28.72 and a beta of 0.77. Dolby Laboratories has a 52 week low of $44.99 and a 52 week high of $55.02.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.06%. Dolby Laboratories’s dividend payout ratio (DPR) is currently 30.27%.
In other Dolby Laboratories 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 transaction of $103,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Lewis Chew sold 14,300 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was 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 in the last three months. 43.80% of the stock is currently owned by company insiders.
DLB has been the topic of a number of research analyst reports. Zacks Investment Research raised Dolby Laboratories from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Friday, April 28th. B. Riley raised Dolby Laboratories to a “buy” rating and set a $61.50 price target on the stock in a research note on Saturday. Finally, BidaskClub raised Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, July 8th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $54.90.
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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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