Dolby Laboratories, Inc. (NYSE:DLB) – Investment analysts at B. Riley raised their Q2 2018 earnings per share estimates for shares of Dolby Laboratories in a research report issued to clients and investors on Thursday. B. Riley analyst E. Wold now anticipates that the electronics maker will post earnings per share of $0.63 for the quarter, up from their previous forecast of $0.61. B. Riley currently has a “Hold” rating and a $63.00 target price on the stock. B. Riley also issued estimates for Dolby Laboratories’ FY2018 earnings at $0.96 EPS, Q1 2019 earnings at $0.58 EPS, Q2 2019 earnings at $0.81 EPS and FY2019 earnings at $2.84 EPS.
Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.35. Dolby Laboratories had a net margin of 6.06% and a return on equity of 11.95%. The firm had revenue of $287.80 million during the quarter, compared to analyst estimates of $265.75 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Dolby Laboratories’s quarterly revenue was up 8.1% on a year-over-year basis.
Shares of Dolby Laboratories (DLB) opened at $66.98 on Monday. Dolby Laboratories has a 1-year low of $47.19 and a 1-year high of $74.29. The stock has a market cap of $7,179.60, a PE ratio of 106.32, a P/E/G ratio of 2.63 and a beta of 0.85.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Dolby Laboratories by 2.2% in the second quarter. Vanguard Group Inc. now owns 4,725,496 shares of the electronics maker’s stock valued at $231,360,000 after buying an additional 103,702 shares during the last quarter. BlackRock Inc. lifted its position in Dolby Laboratories by 19.8% in the second quarter. BlackRock Inc. now owns 2,913,371 shares of the electronics maker’s stock valued at $142,639,000 after buying an additional 481,649 shares during the last quarter. Janus Henderson Group PLC lifted its position in Dolby Laboratories by 352.2% in the third quarter. Janus Henderson Group PLC now owns 2,657,618 shares of the electronics maker’s stock valued at $152,875,000 after buying an additional 2,069,849 shares during the last quarter. American Century Companies Inc. lifted its position in Dolby Laboratories by 0.9% in the third quarter. American Century Companies Inc. now owns 1,844,837 shares of the electronics maker’s stock valued at $106,115,000 after buying an additional 16,420 shares during the last quarter. Finally, TimesSquare Capital Management LLC lifted its position in Dolby Laboratories by 6.9% in the third quarter. TimesSquare Capital Management LLC now owns 1,795,000 shares of the electronics maker’s stock valued at $103,248,000 after buying an additional 116,500 shares during the last quarter. 52.55% of the stock is currently owned by institutional investors.
In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 4,594 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $62.45, for a total value of $286,895.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Steven E. Forshay sold 30,069 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $59.00, for a total transaction of $1,774,071.00. The disclosure for this sale can be found here. Insiders sold 518,744 shares of company stock valued at $31,974,015 in the last three months. 43.80% of the stock is currently owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Monday, February 5th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, February 2nd. Dolby Laboratories’s dividend payout ratio is currently 101.59%.
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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