William Blair Comments on Dolby Laboratories’ Q3 2019 Earnings (DLB)
Dolby Laboratories (NYSE:DLB) – Stock analysts at William Blair issued their Q3 2019 earnings per share (EPS) estimates for Dolby Laboratories in a report issued on Wednesday. William Blair analyst R. Schackart expects that the electronics maker will earn $0.81 per share for the quarter.
DLB has been the subject of a number of other research reports. B. Riley set a $66.00 target price on shares of Dolby Laboratories and gave the company a “buy” rating in a research note on Thursday, October 19th. Dougherty & Co restated a “buy” rating and issued a $63.00 price objective on shares of Dolby Laboratories in a research report on Wednesday, September 13th. Piper Jaffray Companies reiterated a “hold” rating and set a $52.00 target price (up previously from $49.00) on shares of Dolby Laboratories in a research report on Wednesday, September 13th. BidaskClub cut shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research upgraded shares of Dolby Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Dolby Laboratories presently has an average rating of “Hold” and an average target price of $60.17.
Shares of Dolby Laboratories (DLB) traded up 0.66% during mid-day trading on Monday, hitting $57.76. The stock had a trading volume of 130,130 shares. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 29.54 and a beta of 0.84. The firm has a 50 day moving average of $57.93 and a 200 day moving average of $52.71. Dolby Laboratories has a one year low of $44.99 and a one year high of $61.45.
Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.18. Dolby Laboratories had a return on equity of 10.73% and a net margin of 18.66%. The firm had revenue of $242.05 million for the quarter, compared to analysts’ expectations of $244.80 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Dolby Laboratories’s revenue for the quarter was up 3.9% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, November 6th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.12%. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, November 3rd. Dolby Laboratories’s dividend payout ratio is presently 28.87%.
In other Dolby Laboratories news, Director Peter C. Gotcher sold 9,310 shares of the stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $60.00, for a total transaction of $558,600.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kevin J. Yeaman sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $51.79, for a total transaction of $517,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,365,310 shares of company stock worth $69,257,700. 43.80% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Dolby Laboratories by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock worth $114,000 after acquiring an additional 209 shares in the last quarter. US Bancorp DE boosted its position 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 buying an additional 78 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position 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 buying an additional 725 shares in the last quarter. Teacher Retirement System of Texas boosted its position 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 buying an additional 205 shares in the last quarter. Finally, CrestPoint Capital Management LLC acquired a new stake in Dolby Laboratories in the second quarter valued at approximately $240,000. Hedge funds and other institutional investors own 51.83% of the company’s stock.
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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