News coverage about Dolby Laboratories (NYSE:DLB) has trended somewhat positive this week, according to Accern Sentiment. The research group ranks the sentiment of news coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Dolby Laboratories earned a media sentiment score of 0.12 on Accern’s scale. Accern also assigned headlines about the electronics maker an impact score of 45.1752708069051 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
A number of equities research analysts have issued reports on DLB shares. B. Riley set a $62.00 price target on Dolby Laboratories and gave the company a “buy” rating in a research note on Friday, August 18th. BidaskClub downgraded Dolby Laboratories from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Piper Jaffray Companies restated a “hold” rating and set a $52.00 price target (up from $49.00) on shares of Dolby Laboratories in a research note on Wednesday, September 13th. Dougherty & Co reaffirmed a “buy” rating and set a $63.00 price objective on shares of Dolby Laboratories in a research report on Wednesday, September 13th. Finally, Zacks Investment Research cut Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $60.17.
Dolby Laboratories (DLB) traded down $0.23 during mid-day trading on Wednesday, hitting $61.17. The stock had a trading volume of 303,861 shares, compared to its average volume of 382,949. Dolby Laboratories has a 12-month low of $44.98 and a 12-month high of $63.34. The stock has a market cap of $6,323.44, a PE ratio of 29.72, a P/E/G ratio of 2.30 and a beta of 0.86.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.18. Dolby Laboratories had a return on equity of 10.62% and a net margin of 18.66%. The firm had revenue of $242.05 million for the quarter, compared to analysts’ expectations of $244.80 million. During the same period in the previous year, the firm earned $0.37 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. equities analysts predict that Dolby Laboratories will post 2.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, November 6th were given a dividend of $0.16 per share. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Friday, November 3rd. Dolby Laboratories’s payout ratio is presently 32.99%.
In related news, SVP Bob Borchers sold 148,361 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $62.15, for a total value of $9,220,636.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Steven E. Forshay sold 9,355 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $57.86, for a total value of $541,280.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 570,095 shares of company stock worth $34,617,013. Insiders own 43.80% of the company’s stock.
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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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