FY2017 Earnings Forecast for Dolby Laboratories (NYSE:DLB) Issued By Barrington Research
Dolby Laboratories (NYSE:DLB) – Equities researchers at Barrington Research raised their FY2017 earnings estimates for Dolby Laboratories in a report released on Wednesday. Barrington Research analyst J. Goss now expects that the electronics maker will post earnings per share of $2.00 for the year, up from their previous forecast of $1.95.
Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. Zacks Investment Research downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. Finally, B. Riley raised shares of Dolby Laboratories to a “buy” rating and set a $61.50 target price for the company in a research note on Saturday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Dolby Laboratories has an average rating of “Hold” and an average price target of $54.90.
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Dolby Laboratories (NYSE DLB) traded down 1.12% on Thursday, hitting $54.08. 29,850 shares of the stock were exchanged. The company has a market cap of $5.55 billion, a PE ratio of 29.38 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 company’s 50-day moving average is $50.79 and its 200-day moving average is $50.52.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Tuesday, July 25th. The electronics maker reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.10. Dolby Laboratories had a net margin of 19.02% and a return on equity of 10.39%. The company had revenue of $305.67 million during the quarter, compared to the consensus estimate of $296.88 million. During the same quarter in the prior year, the company posted $0.62 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, August 7th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, August 3rd. Dolby Laboratories’s dividend payout ratio (DPR) is currently 28.57%.
In related news, Director Nicholas Donatiello, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $51.75, for a total transaction of $103,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin J. Yeaman sold 10,000 shares of the firm’s stock in a transaction that occurred 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. 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 owned by insiders.
Large investors have recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado increased its stake in shares of Dolby Laboratories by 1.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 10,226 shares of the electronics maker’s stock valued at $501,000 after buying an additional 114 shares during the period. Parametrica Management Ltd purchased a new stake in shares of Dolby Laboratories during the second quarter valued at $346,000. Skylands Capital LLC bought a new stake in shares of Dolby Laboratories during the second quarter valued at about $759,000. US Bancorp DE boosted its stake in shares of Dolby Laboratories by 2.6% in the second quarter. US Bancorp DE now owns 3,029 shares of the electronics maker’s stock valued at $149,000 after buying an additional 78 shares in the last quarter. Finally, Aperio Group LLC boosted its stake in shares of Dolby Laboratories by 139.9% in the second quarter. Aperio Group LLC now owns 62,588 shares of the electronics maker’s stock valued at $3,064,000 after buying an additional 36,504 shares in the last quarter. 50.87% of the stock is owned by institutional investors.
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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