Analysts Anticipate Dolby Laboratories, Inc. (DLB) Will Announce Quarterly Sales of $265.40 Million

Brokerages expect that Dolby Laboratories, Inc. (NYSE:DLB) will report $265.40 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Dolby Laboratories’ earnings, with estimates ranging from $262.98 million to $267.55 million. Dolby Laboratories reported sales of $266.27 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.3%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, January 24th.

On average, analysts expect that Dolby Laboratories will report full-year sales of $265.40 million for the current fiscal year, with estimates ranging from $1.15 billion to $1.16 billion. For the next year, analysts anticipate that the business will post sales of $1.23 billion per share, with estimates ranging from $1.21 billion to $1.26 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Dolby Laboratories.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share 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 analysts’ expectations of $244.80 million. During the same period in the previous year, the company earned $0.37 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year.

DLB has been the topic of several analyst reports. B. Riley restated a “buy” rating and set a $65.50 price target on shares of Dolby Laboratories in a report on Thursday, October 26th. Zacks Investment Research cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Dolby Laboratories currently has an average rating of “Hold” and an average target price of $59.33.

In other news, SVP Steven E. Forshay sold 9,355 shares of the business’s stock in a transaction that occurred on 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 SEC, which is available at the SEC website. Also, EVP Mark Andrew Sherman sold 4,594 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $62.45, for a total transaction of $286,895.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 508,099 shares of company stock worth $31,240,895. Insiders own 43.74% of the company’s stock.

A number of institutional investors have recently bought and sold shares of DLB. Southport Management L.L.C. bought a new stake in Dolby Laboratories during the 2nd quarter worth approximately $734,000. Schwab Charles Investment Management Inc. grew its stake in Dolby Laboratories by 4.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 310,210 shares of the electronics maker’s stock worth $15,188,000 after buying an additional 12,045 shares in the last quarter. Legal & General Group Plc grew its stake in Dolby Laboratories by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 18,586 shares of the electronics maker’s stock worth $910,000 after buying an additional 199 shares in the last quarter. Principal Financial Group Inc. grew its stake in Dolby Laboratories by 11.7% in the 2nd quarter. Principal Financial Group Inc. now owns 32,427 shares of the electronics maker’s stock worth $1,588,000 after buying an additional 3,396 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in Dolby Laboratories by 11.1% in the 2nd quarter. Teachers Advisors LLC now owns 153,773 shares of the electronics maker’s stock worth $7,529,000 after buying an additional 15,328 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories (NYSE:DLB) opened at $64.04 on Tuesday. Dolby Laboratories has a twelve month low of $47.19 and a twelve month high of $65.56. The firm has a market cap of $6,580.00, a PE ratio of 33.01, a P/E/G ratio of 2.40 and a beta of 0.85.

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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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