Dolby Laboratories, Inc. (DLB) Expected to Announce Earnings of $0.65 Per Share

Brokerages expect Dolby Laboratories, Inc. (NYSE:DLB) to post earnings per share of $0.65 for the current quarter, according to Zacks. Four analysts have provided estimates for Dolby Laboratories’ earnings. The highest EPS estimate is $0.66 and the lowest is $0.63. Dolby Laboratories reported earnings per share of $0.63 during the same quarter last year, which suggests a positive year over year growth rate of 3.2%. The firm is expected to announce its next quarterly earnings results on Wednesday, April 25th.

According to Zacks, analysts expect that Dolby Laboratories will report full year earnings of $1.01 per share for the current fiscal year, with EPS estimates ranging from $0.88 to $1.15. For the next year, analysts expect that the firm will report earnings of $2.76 per share, with EPS estimates ranging from $2.58 to $2.87. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Dolby Laboratories.

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Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.35. Dolby Laboratories had a net margin of 6.06% and a return on equity of 12.02%. The business had revenue of $287.80 million for the quarter, compared to analysts’ expectations of $265.75 million. During the same period in the previous year, the company earned $0.66 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year.

A number of research analysts have weighed in on the stock. ValuEngine upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded shares of Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, February 27th. B. Riley cut shares of Dolby Laboratories to a “hold” rating and set a $63.00 target price on the stock. in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Dolby Laboratories from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Dolby Laboratories presently has a consensus rating of “Hold” and an average target price of $62.00.

Dolby Laboratories (NYSE DLB) opened at $67.52 on Tuesday. Dolby Laboratories has a twelve month low of $48.00 and a twelve month high of $74.29. The firm has a market cap of $7,014.79, a PE ratio of 28.71, a P/E/G ratio of 5.58 and a beta of 0.75.

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Monday, February 5th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Friday, February 2nd. Dolby Laboratories’s payout ratio is 101.59%.

In other news, Director N William Jasper, Jr. sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $66.72, for a total value of $1,334,400.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Giles Baker sold 35,866 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $64.08, for a total transaction of $2,298,293.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 532,134 shares of company stock worth $33,369,380. Corporate insiders own 43.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Dolby Laboratories by 0.8% in the fourth 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 during the period. Janus Henderson Group PLC increased its holdings in 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 worth $152,875,000 after acquiring an additional 2,069,849 shares during the period. TimesSquare Capital Management LLC increased its holdings in 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 worth $103,248,000 after acquiring an additional 116,500 shares during the period. Timucuan Asset Management Inc. FL increased its holdings in 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 worth $75,728,000 after acquiring an additional 8,110 shares during the period. Finally, Thrivent Financial For Lutherans increased its holdings in Dolby Laboratories by 2.2% during the 4th quarter. Thrivent Financial For Lutherans now owns 947,150 shares of the electronics maker’s stock worth $58,723,000 after acquiring an additional 20,610 shares during the period. 53.28% of the stock is currently owned by 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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Earnings History and Estimates for Dolby Laboratories (NYSE:DLB)

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