Brokerages predict that Dolby Laboratories, Inc. (NYSE:DLB) will announce $316.17 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Dolby Laboratories’ earnings, with the lowest sales estimate coming in at $312.72 million and the highest estimate coming in at $319.86 million. Dolby Laboratories posted sales of $265.33 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 19.2%. The company is scheduled to report its next quarterly earnings results on Wednesday, October 23rd.
On average, analysts expect that Dolby Laboratories will report full-year sales of $1.26 billion for the current fiscal year, with estimates ranging from $1.26 billion to $1.27 billion. For the next financial year, analysts forecast that the company will post sales of $1.37 billion, with estimates ranging from $1.36 billion to $1.37 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Thursday, August 1st. The electronics maker reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.11). Dolby Laboratories had a return on equity of 11.12% and a net margin of 24.93%. The company had revenue of $302.16 million for the quarter, compared to the consensus estimate of $305.29 million. During the same period in the prior year, the company earned $0.18 EPS. The firm’s revenue was up 40.7% on a year-over-year basis.
A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Dolby Laboratories from a “hold” rating to a “strong-buy” rating and set a $74.00 target price for the company in a research report on Friday, May 3rd. B. Riley raised shares of Dolby Laboratories from a “neutral” rating to a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Dolby Laboratories currently has an average rating of “Buy” and an average target price of $78.00.
Dolby Laboratories stock traded down $9.27 during mid-day trading on Monday, reaching $58.81. The company’s stock had a trading volume of 2,620,957 shares, compared to its average volume of 302,871. The stock has a market cap of $5.98 billion, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 2.20 and a beta of 0.84. Dolby Laboratories has a 12 month low of $58.17 and a 12 month high of $72.04. The firm’s 50 day simple moving average is $64.92.
In other news, EVP Mark Andrew Sherman sold 57,500 shares of Dolby Laboratories stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $67.53, for a total value of $3,882,975.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Giles Baker sold 8,181 shares of Dolby Laboratories stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $65.30, for a total transaction of $534,219.30. Following the completion of the transaction, the senior vice president now directly owns 12,499 shares of the company’s stock, valued at approximately $816,184.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,227,730 shares of company stock valued at $80,388,364. 40.23% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC lifted its stake in shares of Dolby Laboratories by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 669 shares of the electronics maker’s stock worth $42,000 after buying an additional 223 shares during the last quarter. Advisory Alpha LLC acquired a new stake in shares of Dolby Laboratories during the 1st quarter worth about $53,000. TRUE Private Wealth Advisors acquired a new stake in shares of Dolby Laboratories during the 2nd quarter worth about $84,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Dolby Laboratories by 45.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,490 shares of the electronics maker’s stock worth $94,000 after buying an additional 467 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Dolby Laboratories by 17.4% during the 2nd quarter. Signaturefd LLC now owns 1,812 shares of the electronics maker’s stock worth $117,000 after buying an additional 269 shares during the last quarter. 55.95% of the stock is owned by institutional investors.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.
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