Zacks: Brokerages Anticipate Dolby Laboratories (NYSE:DLB) Will Announce Earnings of $0.26 Per Share
Analysts expect that Dolby Laboratories (NYSE:DLB) will post earnings per share of $0.26 for the current quarter, Zacks reports. Four analysts have provided estimates for Dolby Laboratories’ earnings, with the lowest EPS estimate coming in at $0.23 and the highest estimate coming in at $0.30. Dolby Laboratories posted earnings of $0.23 per share during the same quarter last year, which would suggest a positive year over year growth rate of 13%. The firm is expected to issue its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Dolby Laboratories will report full-year earnings of $1.99 per share for the current fiscal year, with EPS estimates ranging from $1.96 to $2.03. For the next financial year, analysts forecast that the firm will report earnings of $2.25 per share, with EPS estimates ranging from $2.05 to $2.40. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last released its earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.10. Dolby Laboratories had a return on equity of 10.39% and a net margin of 19.02%. The business had revenue of $305.67 million for the quarter, compared to analyst estimates of $296.88 million. During the same quarter last year, the firm posted $0.62 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year.
Several brokerages have recently commented on DLB. BidaskClub lowered Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday. B. Riley reiterated a “buy” rating and issued a $61.50 price objective on shares of Dolby Laboratories in a report on Friday, July 28th. Finally, Zacks Investment Research upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Dolby Laboratories presently has a consensus rating of “Hold” and a consensus price target of $54.38.
In other news, insider Kevin J. Yeaman sold 10,000 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $51.79, for a total value of $517,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Dagmar Dolby sold 100,000 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $52.22, for a total value of $5,222,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 224,300 shares of company stock worth $11,662,762. Company insiders own 43.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Watermark Asset Management Inc. acquired a new position in Dolby Laboratories during the first quarter worth approximately $114,000. 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 worth $149,000 after buying an additional 78 shares during the period. James Investment Research Inc. purchased a new stake in shares of Dolby Laboratories during the first quarter worth about $155,000. Teacher Retirement System of Texas boosted its stake in shares of Dolby Laboratories by 4.6% in the second quarter. Teacher Retirement System of Texas now owns 4,637 shares of the electronics maker’s stock worth $227,000 after buying an additional 205 shares during the period. Finally, Northeast Financial Consultants Inc purchased a new stake in shares of Dolby Laboratories during the first quarter worth about $229,000. Institutional investors and hedge funds own 50.65% of the company’s stock.
Dolby Laboratories (NYSE:DLB) opened at 51.15 on Monday. The stock’s 50 day moving average price is $51.06 and its 200 day moving average price is $50.66. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 26.16 and a beta of 0.79. Dolby Laboratories has a 52 week low of $44.99 and a 52 week high of $55.02.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, August 7th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.09%. Dolby Laboratories’s payout ratio is currently 28.57%.
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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