Zacks: Analysts Expect Dolby Laboratories (DLB) to Announce $0.45 Earnings Per Share

Wall Street brokerages expect Dolby Laboratories (NYSE:DLB) to report earnings per share (EPS) of $0.45 for the current quarter, according to Zacks. Three analysts have issued estimates for Dolby Laboratories’ earnings, with estimates ranging from $0.43 to $0.47. Dolby Laboratories reported earnings per share of $0.51 during the same quarter last year, which suggests a negative year-over-year growth rate of 11.8%. The company is expected to announce its next earnings report on Wednesday, January 24th.

On average, analysts expect that Dolby Laboratories will report full year earnings of $2.24 per share for the current fiscal year, with EPS estimates ranging from $2.15 to $2.41. For the next financial year, analysts expect that the company will post earnings of $2.62 per share, with EPS estimates ranging from $2.49 to $2.92. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Dolby Laboratories.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Wednesday, October 25th. The electronics maker reported $0.45 EPS for the quarter, topping the consensus estimate of $0.27 by $0.18. Dolby Laboratories had a net margin of 18.66% and a return on equity of 10.62%. The business had revenue of $242.05 million for the quarter, compared to analyst estimates of $244.80 million. During the same period in the previous 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.

Several equities research analysts recently commented on the stock. B. Riley reiterated a “buy” rating and issued a $61.50 price objective on shares of Dolby Laboratories in a research report on Thursday, September 14th. BidaskClub lowered shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Piper Jaffray Companies restated a “hold” rating and issued a $52.00 target price (up from $49.00) on shares of Dolby Laboratories in a report on Wednesday, September 13th. Dougherty & Co restated a “buy” rating and issued a $63.00 target price on shares of Dolby Laboratories in a report on Wednesday, September 13th. Finally, Zacks Investment Research lowered shares of Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 31st. 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 an average rating of “Hold” and an average price target of $60.17.

In other Dolby Laboratories news, SVP Bob Borchers sold 33,179 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $61.74, for a total value of $2,048,471.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Lewis Chew sold 17,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $59.55, for a total transaction of $1,012,350.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 371,734 shares of company stock worth $22,260,377. 43.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System increased its stake in shares of Dolby Laboratories by 5.9% during the 3rd quarter. California Public Employees Retirement System now owns 189,521 shares of the electronics maker’s stock valued at $10,901,000 after acquiring an additional 10,521 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Dolby Laboratories by 24.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 20,883 shares of the electronics maker’s stock valued at $1,201,000 after acquiring an additional 4,076 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Dolby Laboratories during the 3rd quarter valued at about $254,000. Janus Henderson Group PLC increased its stake in shares of Dolby Laboratories by 352.2% during the 3rd quarter. Janus Henderson Group PLC now owns 2,657,618 shares of the electronics maker’s stock valued at $152,875,000 after acquiring an additional 2,069,849 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Dolby Laboratories during the 3rd quarter valued at about $4,531,000. 52.67% of the stock is owned by institutional investors.

Dolby Laboratories (DLB) traded up $0.48 during trading on Thursday, hitting $62.18. 560,282 shares of the company traded hands, compared to its average volume of 384,761. Dolby Laboratories has a 1-year low of $44.98 and a 1-year high of $63.34. The stock has a market cap of $6,435.96, a price-to-earnings ratio of 30.25, a PEG ratio of 2.34 and a beta of 0.83.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, November 6th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.03%. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, November 3rd. Dolby Laboratories’s dividend payout ratio is 32.99%.

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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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Earnings History and Estimates for Dolby Laboratories (NYSE:DLB)

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