Equities analysts forecast that Dolby Laboratories, Inc. (NYSE:DLB) will report $0.77 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Dolby Laboratories’ earnings, with estimates ranging from $0.77 to $0.78. Dolby Laboratories posted earnings per share of $0.63 during the same quarter last year, which would indicate a positive year over year growth rate of 22.2%. The firm is expected to issue its next earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that Dolby Laboratories will report full year earnings of $2.93 per share for the current financial year, with EPS estimates ranging from $2.88 to $3.00. For the next fiscal year, analysts anticipate that the business will post earnings of $3.24 per share, with EPS estimates ranging from $3.20 to $3.30. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.35. The firm had revenue of $287.80 million for the quarter, compared to analyst estimates of $265.75 million. Dolby Laboratories had a return on equity of 12.02% and a net margin of 6.06%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $0.66 EPS.
DLB has been the topic of a number of recent research reports. Zacks Investment Research lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. B. Riley lowered Dolby Laboratories from a “buy” rating to a “neutral” rating and set a $63.00 price objective on the stock. in a research report on Tuesday, January 16th. JPMorgan Chase increased their price objective on Dolby Laboratories from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Finally, ValuEngine upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $64.20.
Shares of DLB opened at $67.54 on Monday. The firm has a market capitalization of $6,992.01, a price-to-earnings ratio of 28.62, a PEG ratio of 5.67 and a beta of 0.74. Dolby Laboratories has a 52 week low of $48.00 and a 52 week high of $74.29.
In other news, Director Peter C. Gotcher sold 18,544 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $64.53, for a total value of $1,196,644.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kevin J. Yeaman sold 100,000 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $62.33, for a total value of $6,233,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 488,820 shares of company stock worth $30,638,698. 43.74% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Xact Kapitalforvaltning AB acquired a new stake in Dolby Laboratories during the 4th quarter worth $280,000. Envestnet Asset Management Inc. raised its stake in Dolby Laboratories by 5.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 23,669 shares of the electronics maker’s stock worth $1,467,000 after buying an additional 1,229 shares during the period. Castleark Management LLC raised its stake in Dolby Laboratories by 18.3% during the 4th quarter. Castleark Management LLC now owns 76,180 shares of the electronics maker’s stock worth $4,723,000 after buying an additional 11,790 shares during the period. Macquarie Group Ltd. raised its stake in Dolby Laboratories by 950.0% during the 4th quarter. Macquarie Group Ltd. now owns 6,300 shares of the electronics maker’s stock worth $391,000 after buying an additional 5,700 shares during the period. Finally, Meadow Creek Investment Management LLC acquired a new stake in Dolby Laboratories during the 4th quarter worth $179,000. 53.28% of the stock is currently owned by institutional investors.
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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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