Dolby Laboratories, Inc. (NYSE:DLB) – Investment analysts at William Blair cut their FY2018 earnings per share estimates for Dolby Laboratories in a research report issued on Thursday, according to Zacks Investment Research. William Blair analyst R. Schackart now expects that the electronics maker will post earnings of $0.79 per share for the year, down from their previous estimate of $2.15. William Blair also issued estimates for Dolby Laboratories’ Q4 2018 earnings at $0.22 EPS.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.35. The firm had revenue of $287.80 million during the quarter, compared to analysts’ expectations of $265.75 million. Dolby Laboratories had a return on equity of 12.02% and a net margin of 6.06%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS.
A number of other analysts have also recently weighed in on the company. B. Riley cut Dolby Laboratories from a “buy” rating to a “neutral” rating and set a $63.00 price objective for the company. in a research report on Tuesday, January 16th. Zacks Investment Research cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. raised their price objective on Dolby Laboratories from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $62.00.
Shares of Dolby Laboratories (NYSE:DLB) opened at $62.44 on Monday. The firm has a market capitalization of $6,180.00, a price-to-earnings ratio of 99.11, a PEG ratio of 5.07 and a beta of 0.78. Dolby Laboratories has a 52-week low of $48.00 and a 52-week high of $74.29.
A number of hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. raised its stake in Dolby Laboratories by 1.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 7,769 shares of the electronics maker’s stock worth $380,000 after acquiring an additional 94 shares during the last quarter. Legal & General Group Plc raised 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 acquiring an additional 199 shares during the last quarter. The Manufacturers Life Insurance Company raised 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 worth $174,000 after acquiring an additional 725 shares during the last quarter. Suntrust Banks Inc. raised its stake in shares of Dolby Laboratories by 7.6% during the 2nd quarter. Suntrust Banks Inc. now owns 11,789 shares of the electronics maker’s stock valued at $576,000 after buying an additional 835 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Dolby Laboratories by 0.3% during the 2nd quarter. Northern Trust Corp now owns 273,724 shares of the electronics maker’s stock valued at $13,401,000 after buying an additional 836 shares during the last quarter. Institutional investors own 52.74% of the company’s stock.
In related news, CMO Bob Borchers sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $61.00, for a total value of $3,050,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Andrew Sherman sold 81,554 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $62.52, for a total value of $5,098,756.08. The disclosure for this sale can be found here. Insiders sold a total of 761,989 shares of company stock valued at $47,521,183 in the last 90 days. 43.74% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Monday, February 5th will be paid a $0.16 dividend. The ex-dividend date is Friday, February 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.02%. Dolby Laboratories’s dividend payout ratio (DPR) is 101.59%.
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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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