Dolby Laboratories (DLB) to Post Q1 2018 Earnings of $0.43 Per Share, Barrington Research Forecasts
Dolby Laboratories (NYSE:DLB) – Research analysts at Barrington Research lowered their Q1 2018 EPS estimates for shares of Dolby Laboratories in a report released on Monday. Barrington Research analyst J. Goss now anticipates that the electronics maker will post earnings of $0.43 per share for the quarter, down from their previous forecast of $0.56. Barrington Research also issued estimates for Dolby Laboratories’ Q2 2018 earnings at $0.52 EPS, Q3 2018 earnings at $0.90 EPS, Q4 2018 earnings at $0.30 EPS, FY2018 earnings at $2.15 EPS, Q4 2019 earnings at $0.35 EPS, FY2019 earnings at $2.50 EPS and FY2020 earnings at $3.00 EPS.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Wednesday, October 25th. The electronics maker reported $0.45 EPS for the quarter, topping 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 company had revenue of $242.05 million during the quarter, compared to analyst estimates of $244.80 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. Dolby Laboratories’s revenue was up 3.9% on a year-over-year basis. TRADEMARK VIOLATION WARNING: “Dolby Laboratories (DLB) to Post Q1 2018 Earnings of $0.43 Per Share, Barrington Research Forecasts” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another domain, it was copied illegally and reposted in violation of international copyright & trademark laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/31/dolby-laboratories-dlb-to-post-q1-2018-earnings-of-0-43-per-share-barrington-research-forecasts.html.
Several other research firms have also recently weighed in on DLB. B. Riley set a $66.00 price target on Dolby Laboratories and gave the company a “buy” rating in a report on Thursday, October 19th. Dougherty & Co restated a “buy” rating and set a $63.00 price target on shares of Dolby Laboratories in a report on Wednesday, September 13th. Zacks Investment Research cut Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Piper Jaffray Companies restated a “hold” rating and set a $52.00 price target (up previously from $49.00) on shares of Dolby Laboratories in a report on Wednesday, September 13th. Finally, BidaskClub cut Dolby Laboratories from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $60.17.
Shares of Dolby Laboratories (NYSE:DLB) traded up 0.281% during mid-day trading on Tuesday, reaching $57.842. The company’s stock had a trading volume of 119,585 shares. The stock has a market capitalization of $5.93 billion, a P/E ratio of 29.587 and a beta of 0.84. The company’s 50-day moving average price is $58.13 and its 200-day moving average price is $52.78. Dolby Laboratories has a 12-month low of $44.99 and a 12-month high of $61.45.
A number of institutional investors and hedge funds have recently bought and sold shares of DLB. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Dolby Laboratories by 9.8% during the 2nd 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 boosted its holdings in Dolby Laboratories by 2.6% during the 2nd 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 boosted its holdings in Dolby Laboratories by 25.5% during the 2nd 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. Berkshire Asset Management LLC PA purchased a new position in Dolby Laboratories during the 3rd quarter valued at $200,000. Finally, Teacher Retirement System of Texas boosted its holdings in Dolby Laboratories by 4.6% during the 2nd 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. Institutional investors own 51.83% of the company’s stock.
In related news, insider Kevin J. Yeaman sold 30,000 shares of the business’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $60.00, for a total transaction of $1,800,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Dagmar Dolby sold 100,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $48.28, for a total value of $4,828,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,365,310 shares of company stock valued at $69,257,700. Company insiders own 43.80% of the company’s stock.
The business 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 is a boost from Dolby Laboratories’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.11%. Dolby Laboratories’s payout ratio is 28.87%.
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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