Brokers Set Expectations for Dolby Laboratories’ Q1 2019 Earnings (DLB)
Dolby Laboratories (NYSE:DLB) – Research analysts at Barrington Research issued their Q1 2019 earnings per share estimates for shares of Dolby Laboratories in a report released on Monday. Barrington Research analyst J. Goss expects that the electronics maker will earn $0.47 per share for the quarter. Barrington Research also issued estimates for Dolby Laboratories’ Q2 2019 earnings at $0.59 EPS and Q3 2019 earnings at $1.08 EPS.
Other equities research analysts have also issued research reports about the company. B. Riley reaffirmed a “buy” rating and set a $61.50 price target on shares of Dolby Laboratories in a research note on Friday, July 28th. Zacks Investment Research upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Piper Jaffray Companies reiterated a “hold” rating and issued a $52.00 price objective (up previously from $49.00) on shares of Dolby Laboratories in a report on Wednesday, September 13th. Finally, BidaskClub downgraded 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 stock. The company currently has an average rating of “Hold” and a consensus target price of $60.17.
COPYRIGHT VIOLATION NOTICE: “Brokers Set Expectations for Dolby Laboratories’ Q1 2019 Earnings (DLB)” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another domain, it was illegally copied and reposted in violation of U.S. and international copyright law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/11/01/brokers-set-expectations-for-dolby-laboratories-q1-2019-earnings-dlb.html. Dolby Laboratories (NYSE:DLB) last issued its earnings results on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.18. Dolby Laboratories had a return on equity of 10.73% and a net margin of 18.66%. The business had revenue of $242.05 million during the quarter, compared to analysts’ expectations of $244.80 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year.
The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.64 annualized dividend and a dividend yield of 1.10%. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.14. Dolby Laboratories’s payout ratio is currently 28.87%.
In other news, major shareholder Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $51.13, for a total value of $5,113,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Steven E. Forshay sold 9,355 shares of Dolby Laboratories stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $57.86, for a total value of $541,280.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,264,665 shares of company stock worth $64,078,080. Company insiders own 43.80% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Spot Trading L.L.C. purchased a new position in Dolby Laboratories during the 1st quarter valued at about $660,000. Ameriprise Financial Inc. increased its holdings in Dolby Laboratories by 0.4% during the 1st quarter. Ameriprise Financial Inc. now owns 15,650 shares of the electronics maker’s stock valued at $821,000 after purchasing an additional 61 shares during the period. Wellington Management Group LLP increased its holdings in Dolby Laboratories by 1.2% during the 1st quarter. Wellington Management Group LLP now owns 19,240 shares of the electronics maker’s stock valued at $1,008,000 after purchasing an additional 219 shares during the period. Teachers Advisors LLC increased its holdings in Dolby Laboratories by 5.5% during the 1st quarter. Teachers Advisors LLC now owns 138,445 shares of the electronics maker’s stock valued at $7,256,000 after purchasing an additional 7,209 shares during the period. Finally, Legal & General Group Plc increased its holdings in Dolby Laboratories by 129.3% during the 1st quarter. Legal & General Group Plc now owns 18,387 shares of the electronics maker’s stock valued at $964,000 after purchasing an additional 10,368 shares during the period. 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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