Dolby Laboratories, Inc. (NYSE:DLB) – Stock analysts at William Blair raised their FY2018 earnings per share (EPS) estimates for Dolby Laboratories in a research note issued on Monday, March 12th, Zacks Investment Research reports. William Blair analyst R. Schackart now expects that the electronics maker will earn $0.88 per share for the year, up from their prior forecast 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 research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Wednesday, March 28th. ValuEngine upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. B. Riley downgraded shares of Dolby Laboratories to a “hold” rating and set a $63.00 price objective for the company. in a research report on Thursday, January 25th. Finally, JPMorgan Chase upped their price objective on shares of Dolby Laboratories from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $64.20.
NYSE DLB opened at $63.01 on Wednesday. The firm has a market cap of $6,563.42, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 5.33 and a beta of 0.74. Dolby Laboratories has a 1 year low of $48.00 and a 1 year high of $74.29.
Dolby Laboratories (NYSE:DLB) last posted its earnings results on Wednesday, January 24th. The electronics maker reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.35. The company had revenue of $287.80 million during the quarter, compared to the consensus estimate of $265.75 million. Dolby Laboratories had a net margin of 6.06% and a return on equity of 12.02%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share.
In other news, EVP Mark Andrew Sherman sold 81,554 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $62.52, for a total transaction of $5,098,756.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin J. Yeaman sold 50,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $61.32, for a total transaction of $3,066,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 498,820 shares of company stock valued at $31,288,698. Insiders own 43.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in DLB. Elkfork Partners LLC purchased a new stake in shares of Dolby Laboratories during the fourth quarter worth about $102,000. Captrust Financial Advisors purchased a new stake in shares of Dolby Laboratories during the fourth quarter worth about $122,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Dolby Laboratories during the fourth quarter worth about $145,000. The Manufacturers Life Insurance Company increased its stake in shares of Dolby Laboratories by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock worth $174,000 after purchasing an additional 725 shares in the last quarter. Finally, Meadow Creek Investment Management LLC purchased a new stake in shares of Dolby Laboratories during the fourth quarter worth about $179,000. 53.28% of the stock is owned by institutional investors and hedge funds.
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Dolby Laboratories Company Profile
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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