Wall Street analysts expect Dolby Laboratories (NYSE:DLB) to report sales of $266.20 million for the current quarter, Zacks reports. Three analysts have made estimates for Dolby Laboratories’ earnings. The lowest sales estimate is $264.61 million and the highest is $267.55 million. Dolby Laboratories posted sales of $266.27 million in the same quarter last year, which would indicate a negative year over year growth rate of 0%. The firm is expected to issue its next quarterly earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that Dolby Laboratories will report full-year sales of $266.20 million for the current fiscal year. For the next year, analysts expect that the business will report sales of $1.23 billion per share, with estimates ranging from $1.21 billion to $1.24 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last posted its earnings results 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 company had revenue of $242.05 million for the quarter, compared to analyst estimates of $244.80 million. During the same quarter last year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis.
A number of brokerages recently commented on DLB. Zacks Investment Research lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday. Piper Jaffray Companies reissued a “hold” rating and issued a $52.00 target price (up from $49.00) on shares of Dolby Laboratories in a research report on Wednesday, September 13th. B. Riley reissued a “buy” rating and issued a $61.50 target price on shares of Dolby Laboratories in a research report on Thursday, September 14th. Finally, Dougherty & Co reissued a “buy” rating and issued a $63.00 target price on shares of Dolby Laboratories in a research report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $60.17.
In related news, Director Peter C. Gotcher sold 9,310 shares of the business’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $60.00, for a total transaction of $558,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Andrew Sherman sold 7,000 shares of the business’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $60.00, for a total value of $420,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 544,409 shares of company stock valued at $33,369,495. 43.80% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of DLB. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Dolby Laboratories by 9.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock worth $114,000 after purchasing an additional 209 shares during the last quarter. Berkshire Asset Management LLC PA bought a new stake in Dolby Laboratories during the third quarter worth about $200,000. CIBC Asset Management Inc bought a new stake in shares of Dolby Laboratories in the 3rd quarter valued at about $204,000. The Manufacturers Life Insurance Company lifted its stake in shares of Dolby Laboratories by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock valued at $174,000 after acquiring an additional 725 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Dolby Laboratories in the 3rd quarter valued at about $231,000. Institutional investors and hedge funds own 52.53% of the company’s stock.
Dolby Laboratories (DLB) opened at $63.52 on Friday. Dolby Laboratories has a fifty-two week low of $47.19 and a fifty-two week high of $63.69. The firm has a market capitalization of $6,510.00, a P/E ratio of 32.74, a PEG ratio of 2.35 and a beta of 0.85.
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About Dolby Laboratories
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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