Dolby Laboratories (DLB) Given Average Rating of “Hold” by Brokerages
Dolby Laboratories (NYSE:DLB) has earned an average rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $56.50.
A number of equities research analysts have issued reports on the company. B. Riley upgraded Dolby Laboratories to a “buy” rating and set a $61.50 price target for the company in a research note on Saturday, July 22nd. BidaskClub upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, Zacks Investment Research upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th.
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Shares of Dolby Laboratories (NYSE:DLB) traded down 1.30% during trading on Friday, reaching $52.41. 79,716 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $50.87 and a 200 day moving average price of $50.54. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 28.47 and a beta of 0.77. Dolby Laboratories has a 12 month low of $44.99 and a 12 month high of $55.02.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.10. The business had revenue of $305.67 million during the quarter, compared to the consensus estimate of $296.88 million. Dolby Laboratories had a return on equity of 10.39% and a net margin of 19.02%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. On average, analysts forecast that Dolby Laboratories will post $1.98 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, August 7th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, August 3rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.05%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 28.57%.
In other Dolby Laboratories news, Director Nicholas Donatiello, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $51.75, for a total value of $103,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Lewis Chew sold 14,300 shares of the company’s stock in a transaction that occurred 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. Over the last quarter, insiders have sold 26,300 shares of company stock valued at $1,336,662. 43.80% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of DLB. Watermark Asset Management Inc. purchased a new stake in shares of Dolby Laboratories during the first quarter valued at about $114,000. James Investment Research Inc. purchased a new stake in shares of Dolby Laboratories during the first quarter valued at about $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 purchased a new stake in shares of Dolby Laboratories during the first quarter valued at about $229,000. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Dolby Laboratories during the first quarter valued at about $249,000. 50.87% of the stock is currently owned by institutional investors and hedge funds.
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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