Wall Street analysts forecast that Dolby Laboratories, Inc. (NYSE:DLB) will post sales of $297.51 million for the current quarter, Zacks reports. Four analysts have made estimates for Dolby Laboratories’ earnings, with the lowest sales estimate coming in at $295.71 million and the highest estimate coming in at $300.53 million. Dolby Laboratories reported sales of $265.33 million in the same quarter last year, which would suggest a positive year over year growth rate of 12.1%. The firm is expected to issue its next earnings report on Wednesday, October 23rd.
On average, analysts expect that Dolby Laboratories will report full-year sales of $1.24 billion for the current year. For the next financial year, analysts forecast that the firm will report sales of $1.35 billion, with estimates ranging from $1.34 billion to $1.36 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that follow Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last issued its earnings results on Thursday, August 1st. The electronics maker reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.11). The firm had revenue of $302.16 million during the quarter, compared to analyst estimates of $305.29 million. Dolby Laboratories had a net margin of 21.64% and a return on equity of 9.00%. The business’s quarterly revenue was up 40.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share.
Several analysts have recently commented on DLB shares. Tigress Financial restated a “buy” rating on shares of Dolby Laboratories in a research note on Wednesday. B. Riley restated a “neutral” rating and issued a $73.00 target price (up from $67.00) on shares of Dolby Laboratories in a research note on Friday, August 2nd. ValuEngine upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Finally, William Blair restated a “buy” rating on shares of Dolby Laboratories in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $78.00.
Shares of DLB traded down $0.14 during trading hours on Thursday, hitting $63.02. The stock had a trading volume of 256,104 shares, compared to its average volume of 421,271. The firm has a 50 day simple moving average of $61.27 and a 200-day simple moving average of $63.41. The firm has a market capitalization of $6.36 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 2.30 and a beta of 0.86. Dolby Laboratories has a 1-year low of $56.09 and a 1-year high of $71.77.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 12th were paid a $0.19 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.76 annualized dividend and a dividend yield of 1.21%. Dolby Laboratories’s dividend payout ratio is presently 31.67%.
In other Dolby Laboratories news, VP Ryan Nicholson sold 8,197 shares of Dolby Laboratories stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $61.04, for a total transaction of $500,344.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Lewis Chew sold 15,000 shares of Dolby Laboratories stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $60.33, for a total value of $904,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,098,873 shares of company stock valued at $71,250,412 in the last quarter. Company insiders own 40.23% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Trigran Investments Inc. boosted its stake in Dolby Laboratories by 1.2% during the 2nd quarter. Trigran Investments Inc. now owns 245,035 shares of the electronics maker’s stock valued at $15,829,000 after purchasing an additional 2,948 shares during the last quarter. Keeley Teton Advisors LLC boosted its stake in Dolby Laboratories by 121.6% during the 2nd quarter. Keeley Teton Advisors LLC now owns 149,373 shares of the electronics maker’s stock valued at $9,649,000 after purchasing an additional 81,971 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Dolby Laboratories during the 1st quarter valued at about $616,000. Voloridge Investment Management LLC boosted its stake in Dolby Laboratories by 51.5% during the 2nd quarter. Voloridge Investment Management LLC now owns 32,410 shares of the electronics maker’s stock valued at $2,094,000 after purchasing an additional 11,021 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Dolby Laboratories by 31.6% during the 2nd quarter. Janus Henderson Group PLC now owns 4,828,522 shares of the electronics maker’s stock valued at $311,906,000 after purchasing an additional 1,158,072 shares during the last quarter. Institutional investors and hedge funds own 57.29% of the company’s stock.
About Dolby Laboratories
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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