Dolby Laboratories, Inc. to Post FY2018 Earnings of $0.79 Per Share, William Blair Forecasts (DLB)

Dolby Laboratories, Inc. (NYSE:DLB) – Analysts at William Blair decreased their FY2018 earnings per share (EPS) estimates for Dolby Laboratories in a research report issued on Thursday. William Blair analyst R. Schackart now anticipates that the electronics maker will post earnings per share of $0.79 for the year, down from their prior estimate of $2.15. William Blair also issued estimates for Dolby Laboratories’ Q4 2018 earnings at $0.22 EPS.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.35. The company had revenue of $287.80 million for the quarter, compared to the consensus estimate of $265.75 million. Dolby Laboratories had a return on equity of 11.95% and a net margin of 6.06%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 EPS.

DLB has been the topic of a number of other reports. B. Riley cut Dolby Laboratories to a “hold” rating and set a $63.00 price objective on the stock. in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on Dolby Laboratories from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Zacks Investment Research cut Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Dolby Laboratories has a consensus rating of “Hold” and a consensus price target of $62.00.

Dolby Laboratories (NYSE DLB) opened at $66.98 on Monday. The company has a market capitalization of $6,851.25, a P/E ratio of 28.38, a price-to-earnings-growth ratio of 4.42 and a beta of 0.85. Dolby Laboratories has a 1 year low of $47.19 and a 1 year high of $74.29.

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, February 2nd. Dolby Laboratories’s dividend payout ratio is presently 101.59%.

In related news, SVP Bob Borchers sold 116,821 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $61.15, for a total value of $7,143,604.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kevin J. Yeaman sold 10,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were 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. In the last ninety days, insiders sold 518,744 shares of company stock worth $31,974,015. 43.74% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new stake in Dolby Laboratories in the 4th quarter valued at $198,000. Berkshire Asset Management LLC PA acquired a new stake in Dolby Laboratories in the 3rd quarter valued at $200,000. CIBC Asset Management Inc acquired a new stake in Dolby Laboratories in the 3rd quarter valued at $204,000. The Manufacturers Life Insurance Company boosted its stake in Dolby Laboratories by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock valued at $174,000 after buying an additional 725 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Dolby Laboratories in the 3rd quarter valued at $231,000. 52.61% of the stock is currently owned by institutional investors and hedge funds.

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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.

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

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