Brokerages predict that Dolby Laboratories, Inc. (NYSE:DLB) will report sales of $316.17 million for the current quarter, according to Zacks Investment Research. Four analysts have provided 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 reported sales of $265.33 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 19.2%. The business is scheduled to issue its next earnings report on Wednesday, October 23rd.
According to Zacks, 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 fiscal year, analysts anticipate that the firm will report 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 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 analysts’ consensus estimates of $0.49 by ($0.11). Dolby Laboratories had a net margin of 21.64% and a return on equity of 9.02%. The firm had revenue of $302.16 million during the quarter, compared to analysts’ expectations of $305.29 million. During the same quarter last year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 40.7% compared to the same quarter last year.
Shares of NYSE DLB traded down $1.42 during trading hours on Monday, hitting $57.39. 73,353 shares of the company’s stock were exchanged, compared to its average volume of 343,664. Dolby Laboratories has a 1-year low of $58.17 and a 1-year high of $72.04. The stock has a market cap of $5.98 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.90 and a beta of 0.84. The firm has a 50-day moving average of $64.92.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, August 12th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.76 annualized dividend and a yield of 1.32%. Dolby Laboratories’s dividend payout ratio (DPR) is 31.67%.
In other Dolby Laboratories news, CFO Lewis Chew sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $63.41, for a total value of $2,219,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Andrew Sherman sold 57,500 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $67.53, for a total value of $3,882,975.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,127,730 shares of company stock valued at $73,839,364. Insiders own 40.23% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. First Quadrant L P CA raised its holdings in shares of Dolby Laboratories by 1,476.3% in the 1st quarter. First Quadrant L P CA now owns 18,585 shares of the electronics maker’s stock worth $1,170,000 after buying an additional 17,406 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Dolby Laboratories during the 1st quarter worth approximately $616,000. Meeder Asset Management Inc. grew its position in Dolby Laboratories by 94.0% during the 1st quarter. Meeder Asset Management Inc. now owns 16,711 shares of the electronics maker’s stock worth $1,053,000 after acquiring an additional 8,099 shares during the last quarter. Chartwell Investment Partners LLC grew its position in Dolby Laboratories by 327.9% during the 1st quarter. Chartwell Investment Partners LLC now owns 218,135 shares of the electronics maker’s stock worth $13,736,000 after acquiring an additional 167,161 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Dolby Laboratories by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 543,749 shares of the electronics maker’s stock worth $33,623,000 after acquiring an additional 21,808 shares during the last quarter. 56.11% of the stock is owned by hedge funds and other 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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