Brokers Offer Predictions for Dolby Laboratories, Inc.’s Q3 2018 Earnings (DLB)

Dolby Laboratories, Inc. (NYSE:DLB) – Research analysts at Barrington Research boosted their Q3 2018 earnings per share estimates for Dolby Laboratories in a research note issued to investors on Friday. Barrington Research analyst J. Goss now expects that the electronics maker will post earnings per share of $0.91 for the quarter, up from their previous estimate of $0.90. Barrington Research also issued estimates for Dolby Laboratories’ Q1 2019 earnings at $0.52 EPS, Q4 2019 earnings at $0.38 EPS and FY2020 earnings at $3.25 EPS.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.35. The company had revenue of $287.80 million for the quarter, compared to analyst estimates of $265.75 million. Dolby Laboratories had a return on equity of 11.95% and a net margin of 6.06%. Dolby Laboratories’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS.

DLB has been the topic of several other research reports. Zacks Investment Research lowered Dolby Laboratories from a “hold” rating to a “sell” rating in a research report on Thursday, January 18th. JPMorgan Chase & Co. raised their target price on Dolby Laboratories from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, B. Riley lowered Dolby Laboratories from a “buy” rating to a “neutral” rating and set a $63.00 target price on the stock. in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $62.00.

Shares of Dolby Laboratories (DLB) opened at $66.98 on Monday. Dolby Laboratories has a 12-month low of $47.19 and a 12-month high of $74.29. The firm has a market capitalization of $7,179.60, a PE ratio of 106.32, a PEG ratio of 2.63 and a beta of 0.85.

A number of large investors have recently added to or reduced their stakes in DLB. The Manufacturers Life Insurance Company grew its stake 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 worth $174,000 after buying an additional 725 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Dolby Laboratories during the 4th quarter worth approximately $198,000. Berkshire Asset Management LLC PA purchased a new position in Dolby Laboratories during the 3rd quarter worth approximately $200,000. CIBC Asset Management Inc purchased a new position in Dolby Laboratories during the 3rd quarter worth approximately $204,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Dolby Laboratories during the 3rd quarter worth approximately $231,000. Hedge funds and other institutional investors own 52.55% of the company’s stock.

In related news, EVP Mark Andrew Sherman sold 4,594 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $62.45, for a total transaction of $286,895.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kevin J. Yeaman sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $58.38, for a total value of $583,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 518,744 shares of company stock worth $31,974,015 in the last three months. Corporate insiders own 43.80% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, February 2nd. Dolby Laboratories’s dividend payout ratio (DPR) is presently 101.59%.

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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.

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

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