Dolby Laboratories, Inc. (DLB) Expected to Post Earnings of $0.84 Per Share

Equities research analysts predict that Dolby Laboratories, Inc. (NYSE:DLB) will post earnings per share of $0.84 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Dolby Laboratories’ earnings, with estimates ranging from $0.82 to $0.85. Dolby Laboratories posted earnings of $0.78 per share in the same quarter last year, which would indicate a positive year over year growth rate of 7.7%. The firm is expected to report its next quarterly earnings report on Tuesday, April 23rd.

On average, analysts expect that Dolby Laboratories will report full year earnings of $2.99 per share for the current financial year, with EPS estimates ranging from $2.94 to $3.03. For the next year, analysts anticipate that the business will post earnings of $3.42 per share, with EPS estimates ranging from $3.41 to $3.42. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Dolby Laboratories.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Wednesday, January 30th. The electronics maker reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.40. Dolby Laboratories had a net margin of 25.47% and a return on equity of 11.30%. The business had revenue of $302.40 million for the quarter, compared to analyst estimates of $295.04 million. During the same quarter in the previous year, the business earned ($0.80) earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year.

A number of equities analysts have issued reports on DLB shares. Zacks Investment Research upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Barrington Research restated a “buy” rating and set a $85.00 price target on shares of Dolby Laboratories in a report on Thursday, January 31st. Finally, ValuEngine cut Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $75.75.

Dolby Laboratories stock traded up $0.75 during trading hours on Thursday, hitting $64.99. The company had a trading volume of 401,526 shares, compared to its average volume of 461,308. The firm has a market cap of $6.63 billion, a PE ratio of 27.08, a P/E/G ratio of 2.19 and a beta of 0.87. Dolby Laboratories has a fifty-two week low of $58.17 and a fifty-two week high of $72.04.

In related news, major shareholder Dagmar Dolby sold 98,543 shares of the stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $65.24, for a total value of $6,428,945.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin J. Yeaman sold 3,380 shares of the stock in a transaction on Monday, February 11th. The shares were sold at an average price of $62.94, for a total value of $212,737.20. The disclosure for this sale can be found here. Insiders have sold 737,481 shares of company stock worth $47,786,669 over the last ninety days. 40.23% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC bought a new stake in shares of Dolby Laboratories during the fourth quarter valued at approximately $27,000. Essex Savings Bank purchased a new position in Dolby Laboratories during the 4th quarter worth $28,000. Cutler Group LP purchased a new position in Dolby Laboratories during the 4th quarter worth $30,000. Enlightenment Research LLC purchased a new position in Dolby Laboratories during the 4th quarter worth $31,000. Finally, NumerixS Investment Technologies Inc purchased a new position in Dolby Laboratories during the 4th quarter worth $43,000. 56.39% of the stock is owned by institutional investors and hedge funds.

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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