Dolby Laboratories (NYSE:DLB) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.36 to $0.42 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.46. The company issued revenue guidance of $230 million to $250 million, compared to the consensus revenue estimate of $251.67 million.

A number of research analysts recently weighed in on the stock. B. Riley upgraded shares of Dolby Laboratories to a buy rating and set a $61.50 target price on the stock in a research note on Saturday. BidaskClub upgraded shares of Dolby Laboratories from a sell rating to a hold rating in a research note on Saturday, July 8th. Finally, Zacks Investment Research upgraded shares of Dolby Laboratories from a sell rating to a hold rating in a research note on Tuesday, July 4th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $54.90.

Shares of Dolby Laboratories (DLB) traded down 0.96% during mid-day trading on Tuesday, reaching $52.88. 489,306 shares of the company’s stock traded hands. Dolby Laboratories has a 12-month low of $44.99 and a 12-month high of $55.02. The company has a market cap of $5.43 billion, a P/E ratio of 28.72 and a beta of 0.77. The company’s 50 day moving average is $50.66 and its 200 day moving average is $50.45.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Tuesday, July 25th. The electronics maker reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.21. The company had revenue of $305.67 million for the quarter, compared to analyst estimates of $296.88 million. Dolby Laboratories had a net margin of 18.34% and a return on equity of 9.91%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business earned $0.62 earnings per share. On average, analysts predict that Dolby Laboratories will post $1.97 EPS for the current fiscal year.

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 issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.06%. Dolby Laboratories’s payout ratio is 30.27%.

In other Dolby Laboratories news, Director Nicholas Donatiello, Jr. sold 2,000 shares of the stock in a transaction on Monday, May 8th. The shares were 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 SEC, which can be accessed through this hyperlink. Also, insider Kevin J. Yeaman sold 10,000 shares of the stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $51.33, for a total transaction of $513,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,300 shares of company stock worth $1,336,662. Insiders own 43.80% of the company’s stock.

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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.

Earnings History and Estimates for Dolby Laboratories (NYSE:DLB)

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