Dolby Laboratories, Inc. (NYSE:DLB) – Analysts at William Blair lifted their FY2018 earnings estimates for shares of Dolby Laboratories in a research report issued to clients and investors on Monday. William Blair analyst R. Schackart now anticipates that the electronics maker will post earnings of $0.88 per share for the year, up from their previous estimate of $0.79. William Blair also issued estimates for Dolby Laboratories’ Q4 2018 earnings at $0.27 EPS and FY2020 earnings at $3.41 EPS.
Other equities analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research upgraded shares of Dolby Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday, February 27th. B. Riley lowered shares of Dolby Laboratories to a “hold” rating and set a $63.00 price target on the stock. in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Dolby Laboratories from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $62.00.
Dolby Laboratories (NYSE:DLB) last issued its earnings results on Wednesday, January 24th. The electronics maker reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.35. The company had revenue of $287.80 million for the quarter, compared to analysts’ expectations of $265.75 million. Dolby Laboratories had a net margin of 6.06% and a return on equity of 12.02%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Monday, February 5th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Friday, February 2nd. Dolby Laboratories’s dividend payout ratio (DPR) is presently 101.59%.
In other Dolby Laboratories news, SVP Giles Baker sold 35,866 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $64.08, for a total value of $2,298,293.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter C. Gotcher sold 18,544 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $64.53, for a total transaction of $1,196,644.32. The disclosure for this sale can be found here. In the last three months, insiders sold 532,134 shares of company stock worth $33,369,380. Insiders own 43.74% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Dolby Laboratories by 0.8% during the 4th quarter. BlackRock Inc. now owns 3,092,122 shares of the electronics maker’s stock valued at $191,712,000 after purchasing an additional 25,262 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Dolby Laboratories by 352.2% during the 3rd quarter. Janus Henderson Group PLC now owns 2,657,618 shares of the electronics maker’s stock valued at $152,875,000 after purchasing an additional 2,069,849 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in shares of Dolby Laboratories by 6.9% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,795,000 shares of the electronics maker’s stock valued at $103,248,000 after purchasing an additional 116,500 shares in the last quarter. Timucuan Asset Management Inc. FL boosted its stake in shares of Dolby Laboratories by 0.7% during the 4th quarter. Timucuan Asset Management Inc. FL now owns 1,221,424 shares of the electronics maker’s stock valued at $75,728,000 after purchasing an additional 8,110 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its stake in shares of Dolby Laboratories by 2.2% during the 4th quarter. Thrivent Financial For Lutherans now owns 947,150 shares of the electronics maker’s stock valued at $58,723,000 after purchasing an additional 20,610 shares in the last quarter. 53.28% of the stock is currently owned by hedge funds and other institutional investors.
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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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