Analysts Anticipate Dolby Laboratories (DLB) to Announce $0.26 Earnings Per Share
Wall Street analysts forecast that Dolby Laboratories (NYSE:DLB) will post earnings of $0.26 per share for the current quarter, Zacks reports. Five analysts have provided estimates for Dolby Laboratories’ earnings. The highest EPS estimate is $0.30 and the lowest is $0.23. Dolby Laboratories reported earnings of $0.23 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 13%. The company is scheduled to issue its next earnings results after the market closes on Wednesday, October 25th.
On average, 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 business 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 sell-side research firms that follow Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.10. Dolby Laboratories had a net margin of 19.02% and a return on equity of 10.25%. The firm had revenue of $305.67 million for the quarter, compared to analysts’ expectations of $296.88 million. During the same quarter in the prior year, the business earned $0.62 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis.
A number of equities research analysts recently commented on the company. B. Riley reiterated a “buy” rating and issued a $61.50 target price on shares of Dolby Laboratories in a research report on Friday, July 28th. Zacks Investment Research upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Piper Jaffray Companies reiterated a “hold” rating and issued a $52.00 target price (up previously from $49.00) on shares of Dolby Laboratories in a research report on Wednesday, September 13th. Finally, BidaskClub lowered Dolby Laboratories from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Dolby Laboratories has a consensus rating of “Hold” and a consensus target price of $60.33.
Shares of Dolby Laboratories (DLB) traded down 0.40% during trading on Monday, hitting $59.53. 20,558 shares of the stock traded hands. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 30.45 and a beta of 0.85. The stock has a 50 day moving average of $56.92 and a 200 day moving average of $52.44. Dolby Laboratories has a 52-week low of $44.99 and a 52-week high of $60.49.
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In other Dolby Laboratories news, major shareholder Dagmar Dolby sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $52.22, for a total value of $5,222,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Gotcher sold 9,310 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $60.00, for a total value of $558,600.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,465,310 shares of company stock worth $74,479,700. 43.80% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Dolby Laboratories by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock valued at $114,000 after acquiring an additional 209 shares during the period. US Bancorp DE lifted its holdings in 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 acquiring an additional 78 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Dolby Laboratories by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock valued at $174,000 after acquiring an additional 725 shares during the period. Teacher Retirement System of Texas lifted its holdings in 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 valued at $227,000 after acquiring an additional 205 shares during the period. Finally, CrestPoint Capital Management LLC acquired a new position in Dolby Laboratories in the second quarter valued at approximately $240,000. 51.87% 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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