B. Riley Weighs in on Dolby Laboratories’ Q1 2018 Earnings (DLB)
Dolby Laboratories (NYSE:DLB) – Stock analysts at B. Riley cut their Q1 2018 EPS estimates for Dolby Laboratories in a report released on Tuesday. B. Riley analyst E. Wold now forecasts that the electronics maker will post earnings per share of $0.42 for the quarter, down from their previous estimate of $0.44. B. Riley has a “Neutral” rating and a $63.00 price objective on the stock. B. Riley also issued estimates for Dolby Laboratories’ Q1 2019 earnings at $0.48 EPS and Q4 2019 earnings at $0.43 EPS.
Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.18. Dolby Laboratories had a net margin of 18.66% and a return on equity of 10.62%. The company had revenue of $242.05 million during the quarter, compared to analyst estimates of $244.80 million. During the same quarter last year, the business posted $0.37 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis.
Dolby Laboratories (DLB) traded down $2.24 during trading hours on Wednesday, hitting $63.11. 617,800 shares of the stock traded hands, compared to its average volume of 330,530. Dolby Laboratories has a twelve month low of $47.19 and a twelve month high of $65.56. The company has a market cap of $6,490.00, a price-to-earnings ratio of 32.53, a P/E/G ratio of 2.43 and a beta of 0.85.
Several institutional investors have recently modified their holdings of DLB. Janus Henderson Group PLC grew its position in shares of Dolby Laboratories by 352.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,657,618 shares of the electronics maker’s stock worth $152,875,000 after buying an additional 2,069,849 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Dolby Laboratories in the 3rd quarter worth approximately $35,761,000. BlackRock Inc. grew its position in shares of Dolby Laboratories by 19.8% in the 2nd quarter. BlackRock Inc. now owns 2,913,371 shares of the electronics maker’s stock worth $142,639,000 after buying an additional 481,649 shares during the last quarter. Timucuan Asset Management Inc. FL grew its position in shares of Dolby Laboratories by 61.3% in the 2nd quarter. Timucuan Asset Management Inc. FL now owns 1,172,271 shares of the electronics maker’s stock worth $57,394,000 after buying an additional 445,411 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Dolby Laboratories by 14.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,549,100 shares of the electronics maker’s stock worth $75,844,000 after buying an additional 191,600 shares during the last quarter. 52.53% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Steven E. Forshay sold 9,355 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $57.86, for a total value of $541,280.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin J. Yeaman sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $58.38, for a total transaction of $583,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 508,099 shares of company stock valued at $31,240,895. Company insiders own 43.74% 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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